Market Update

Market Watch

Tuesday, 8 December 2015

Accurate MCX Bullion Tips & Market Outlook for Today


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Market Outlook:- 
  • Gold struggled to recover from overnight losses on Tuesday on expectations of a Federal Reserve rate hike next week and a robust dollar.
  • Spot gold XAU= was little changed at $1,071.52 an ounce by 0009 GMT. It fell as much as 1.6 percent on Monday to hit a session low of $1,069.66.
  • Bullion has lost about 9.5 percent for the year, its third straight annual decline, on expectations of the rate hike.
  • The central bank's biggest purchase in five months failed to provide much support for the gold price.
  • Oil prices skidded to their lowest level in nearly seven years on Monday as a global glut showed no signs of abating. Stock markets fell.

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