Tuesday, 5 January 2016

MCX Bullion News Updates

Gold prices-Gold retained gains from a two-day rally on Wednesday, buoyed as markets shifted away from risk amid escalating tensions in the Middle East, fears of a slowdown in China and a slide in global equities. Bullion is often seen as an alternative investment during times of geopolitical and financial uncertainty, though safe-haven rallies tend to be short-lived. The U.S. central bank's Federal Open Market Committee will release the minutes of its December policy meeting later on Wednesday.


MCX Copper Tips-LME copper should narrowly range USD 4,580-4,650/mt during Asian trading hours Wednesday. November’s PPI from euro zone is predicted to be disappointing given continuous drop in crude oil prices in November. In the same period, Germany’s PPI tumbled 2.5% YoY with energy prices down 7.1% from a year earlier. Of November’s manufacturing PMI in euro zone, the output sub-index continued falling. This will likely stimulate the ECB to further expand QE. US non-farm payrolls will be negatively affected, though the ADP figures pick up. However, US dollar will be little affected by those disappointing economic figures due to expectation for rate hike by Fed.

Crude oil prices-Oil prices edged higher on Wednesday, rebounding from near 11-year lows in the previous session as concerns over growing supply and rising stock levels outweighed tensions between key Middle East producers. Data from American Petroleum Institute (API), an industry group, showed crude stocks fell last week by 5.6 million barrels, while stocks at the Cushing, Oklahoma, and delivery hub rose by 1.4 million barrels.


Related Posts:

  • MCX Bullion News Update Gold prices - Gold held near a one-month low on Thursday and looked likely to drop below the key $1,100-an-ounce level after Federal Reserve Chair Janet Yellen bolstered market expectations for a U.S. interest rate hi… Read More
  • MCX Bullion News Update Gold prices-Gold steadied after a five-day slide on Wednesday, but continued to languish near its lowest in four weeks, hurt by fears of a U.S. rate hike this year and investor outflows. Bullion has been under pressure sin… Read More
  • MCX Bullion News Update Gold prices-Gold languished near a four-week low on Tuesday as investors bet the Federal Reserve would hike U.S. rates this year, triggering fund outflows. Gold is seeing a sell-off as investors position themselves for a p… Read More
  • MCX Bullion News Update Gold prices-Gold languished near an eight-week low on Friday and was set to post its worst weekly drop in eight months as investors positioned themselves for a possible U.S. rate hike this year, pulling money out of bullio… Read More
  • MCX Bullion News Update Gold prices -Gold rose on Monday as investors sought safety in the metal following Friday's deadly attacks in Paris and a risk-off sentiment that sent U.S. stock futures lower. At a G20 summit in Turkey, U.S. Pres… Read More

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