MCX Bullion News Updates

Gold prices-Gold edged up to a three-month high early on Tuesday as weak global manufacturing surveys soured appetite for risk assets and pushed investors toward safe havens. Global manufacturing expansion accelerated slightly but remained weak at the start of 2016 as faster growth in developed markets failed to offset a contraction in emerging economies. The Fed's statement last week that it will closely monitor the global economy and financial markets lifted gold to near $1,130.

MCX Copper Tips-About 42% of Chinese market players surveyed by SMM see copper prices fall this week. Germany’s employment and PPI data are expected to be mixed, which will offer clues for whether the ECB will loosen monetary policy further. ECB President said on Monday that euro zone economy has being facing growing downward risks since December and inflation is weaker than expected. His remarks suggest that the ECB might introduce more stimulus measures. 

Crude oil prices-Oil prices fell for a second session in Asian trade on Tuesday as worries about top energy consumer China and rising oil supply weighed on markets, although possible talks between OPEC and Russia on output cuts offered some support. Oil prices could nudge below $30 a barrel again if investors saw hopes fading of a deal between members of oil producer’s cartel OPEC and Russia on production cuts. Goldman Sachs said it was "highly unlikely" OPEC producers would co-operate with Russia to cut output.

 

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