Market Update

Market Watch

Thursday, 5 June 2014

Morning Mcx Market Latest News by CapitalHeight

Gold was little changed near a four-month low on Thursday but faced a risk of more losses if the European Central Bank (ECB) meets expectations to cut rates, a move that could strengthen the dollar and hurt bullion.
Spot gold was flat at $1,243.06 an ounce by 0253 GMT. The metal is close to its four-month low of $1,240.61 hit earlier in the week.
Gold prices fell further at the domestic bullion market here today due to reduced offtake by jewellery stockists and poor local buying interest amid continued uncertainties overseas.
Silver also declined marginally due to the sluggish industrial demand. Standard gold (99.5 purity) eased by Rs 30 to finish at Rs 26,770 per 10 grams against overnight level of Rs 26,800.
Oil prices dipped in Asia Thursday after Russian President Vladimir Putin reached out a hand to crisis-hit Ukraine, raising hopes of an easing in the worst East-West standoff since the Cold War.
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