Latest Gold and Bullion Market Updates By CapitalHeight
Gold and Spot gold edged higher on Tuesday, snapping two sessions of decline, as concerns over China’s economic growth. For more information 2 Days Free Trial, please visit our site at www.capitalheight.com/bullion-premium.php or Call at 0731–6615050.
Market Outlook:-
snapping two sessions of decline, as concerns over China’s economic growth and pressure on stock markets rekindled the safe-haven status of the precious metal.
Spot gold firmed 0.2 percent to $1,096.4 an ounce by 0218 GMT, while U.S. gold futures were little changed at $1,096.1.
Bullion is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.
Gold retreated on Monday as the dollar rose versus the euro, but the metal held around a nine-week high as pressure on stock markets continued to support investors’ flight to safety.
Global stock indexes and oil prices also dropped, continuing a brutal start to 2016.
silver coin sales jumped on Monday after the U.S. Mint said it set the first weekly allocation of 2016 at 4 million ounces.
The Sensex is up 46.48 points or 0.2 percent at 24871.52 and the Nifty is up 19.40 points or 0.3 percent at 7583.25. About 390 shares have advanced, 117 shares declined, and 49 shares are unchanged.
Gold behaves like a safe haven at this juncture given risk aversion on Chinese equity markets and low oil prices.
