Market Update

Market Watch

Tuesday, 15 July 2014

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Today in Mcx Gold was trading near its lowest level in almost four weeks on Tuesday, struggling to get past sharp overnight losses triggered by profit-taking and stronger global equities that dented the metal's safe-haven appeal.Spot gold was little changed at $1,306.75 an ounce by 0317 GMT, after sliding more than 2 percent on Monday – its biggest daily drop since December.Gold touched a low of $1,302.90 in the previous session, its weakest since June 19.
Silver for September delivery rose 0.23% at $20.962 a troy ounce. Copper futures for September delivery were down 0.02% at $3.253 a pound. Silver also dropped 2.03 per cent to USD 21.01 an ounce. It reached USD 21.582 on July 10, the highest since March 17. Bullion rose 1.04 per cent last week, capping the longest run of weekly gains since March.
Crude prices held steady in Asia on Tuesday ahead of U.S. stockpile reports this week. Industry data due later Tuesday is expected to show a drop in U.S. crude stocks in line with last week's 1.7 million barrel decline, while government data on Wednesday is expected to show a fall of 2.025 million barrels as the summer driving season reaches high gear.
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