Market Update

Market Watch

Thursday, 31 October 2013

MCX Market Latest News

Gold fell in choppy trade on Thursday despite the U.S. Federal Reserve vowing to maintain its economic stimulus measures, with investors taking profits from a recent
run-up in prices.

On Wednesday, Gold was also hurt by a sharp slide in silver due to technical selling and strength in the U.S. dollar.Spot gold pared some losses after falling as much 0.3 percent to trade down 0.12 percent at $1,340.59 an ounce by 0022 GMT. Gold is heading for a 1-percent monthly gain.

Elsewhere on the Comex, silver for December delivery was up 1.09% at USD22.737 a troy ounce, while copper for December delivery was up 1.11% and trading at USD3.314 a pound.

Copper futures rose to a one-week high on Wednesday, as investors awaited the outcome of the Federal Reserve's latest policy meeting later in the trading day. Platinum rose 0.6 percent to $1,468.24 an ounce, while palladium edged up 25 cents to $744.25 an ounce.

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1 comment:

  1. Gold prices rose on Tuesday, reversing early losses as the Chinese yuan strengthened against the dollar after a report said the United States and China were trying to restart negotiations to defuse a trade war.