Tuesday, 15 December 2015

MCX Bullion News Updates


Gold prices-Gold drifted in a narrow range on Wednesday as investors awaited the conclusion of a Federal Reserve policy meeting at which the U.S. central bank is expected to raise rates for the first time in nearly a decade. The decision will be released on Wednesday at 1900 GMT, with markets prepared for an initial 25 basis point "liftoff". It is to be followed by a news conference by Fed Chair Janet Yellen to elaborate on the central bank's latest policy statement. Zimbabwe should reduce the royalty fee levied on platinum producers from the current 10 percent to help mining firms offset the impact of low prices, the country's mining chamber said.

gold prices

MCX Copper Tips-LME copper suffers pressure and will move between USD 4,550-4,590/mt during Asian trading hours Wednesday. Focus is turning to a series of economic figures on Wednesday, including December’s flash manufacturing PMI from US and euro zone, November’s final CPI from euro zone and US new home sales. Investors stay cautious ahead of the release of US Fed’s interest rate decision. Little impact is expected from euro zone’s manufacturing PMI in December and November’s final CPI should not improve, which will likely depress euro and in turn support dollar.  
mcx copper tips


Crude oil prices-U.S. oil prices fell in Asian trade on Wednesday, snapping two days of gains that pulled crude back from testing 11-year lows, as investors awaited the outcome of a Federal Reserve meeting that will likely raise interest rates. A rise in rates is typically negative for oil prices because a hike is likely to prop up the greenback, making crude contracts more expensive as they are denominated in dollars. In a further sign of oversupply in the market, data released late on Tuesday by the industry group, American Petroleum Institute, showed a surprise build of 2.3 million barrels in U.S. crude stockpiles last week.

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  • MCX Bullion News Updates  Gold prices-Gold steadied near a 1-1/2-week peak at just below $1,100 an ounce early on Monday, with investors eyeing whether equities will come under renewed pressure and refresh safe-haven demand for bullion. Hedge … Read More
  • MCX Bullion News Updates Gold prices-Gold rose for a second session on Thursday, recovering from a one-week low as pressure on global equity markets and weakness in the U.S. dollar underpinned the precious metal. Chicago Federal Reserve Bank Presid… Read More
  • MCX Bullion News Updates Gold prices-Gold lost more ground on Friday, falling for five out of six sessions as a rebound in oil and equity markets reduced the precious metal's safe haven appeal. Gold has dropped 2.5 percent this week, its biggest we… Read More
  • MCX Bullion News Updates Gold prices-Gold opened the trading week higher on Monday as Asian stocks tumbled to their lowest since 2011 on the heels of weak U.S. economic data that fueled a sell-off on Wall Street. Hedge funds and money managers swit… Read More

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