MCX Bullion News Updates

Gold prices-Gold dipped in Asia on Wednesday as investors looked ahead to testimony from the Federal Reserve chief to the U.S. Congress expected to set the tone on the interest rate outlook. Overnight, gold fell slightly from eight-month highs from the previous session, in spite of a broadly stronger dollar, as investors traded cautiously on Tuesday ahead of a highly-anticipated appearance by Federal Reserve chair Janet Yellen.

MCX Copper Tips-Copper March contract suddenly nose-dived, and is down 2.3 percent at $ 2.042. Liquidity in Asia remained low as China is closed all week due to the Lunar New Year holiday, while South Korea was also off on Wednesday and Japan will take a public holiday on Thursday. On Wednesday as investors looked ahead to testimony from the Federal Reserve chief to the U.S. Congress expected to set the tone on the interest rate outlook. 

Crude oil prices-Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Liquidity in Asia remained low as China is closed all week due to the Lunar New Year holiday, while South Korea was also off on Wednesday and Japan will take a public holiday on Thursday.

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