Market Update

Market Watch

Saturday, 6 April 2013

Mcx Commodity News Today



Gold steadied on Friday but held near its weakest since May last year as investors waited for key U.S. jobs data for more clues on the health of the world's largest economy, while a drop in ETF holdings dragged on prices.

Gold was little changed at $1,553.56 an ounce by 0033 GMT, still heading for a second week of decline. It fell to 1,539.74 on Thursday, its lowest in 10 months, as unprecedented monetary stimulus from the Bank of Japan and hopes for another European Central Bank rate cut failed to stem heavy selling.

U.S. gold for June delivery was at $1,553.70 an ounce, up $1.30.  

Bullion has slipped around 4 percent since hitting a 1-month high in March as investors dumped the precious metal in favour of more risky assets.

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