Market Update

Market Watch

Wednesday, 30 December 2015

Live MCX Bullion Market Status By CapitalHeight

  • Gold was little changed on Wednesday as thin liquidity and a firmer dollar capped price moves, although the metal remained on track to close the year lower for a third time in a row.
  • The precious metal has lost nearly 10 percent of its value this year, largely on fears that higher U.S. interest rates would hurt demand for non-interest-paying bullion.
  • Spot gold was steady at $1,069.40 an ounce by 0109 GMT, following a flat close overnight.
  • Oil prices fell more than 1 percent early on Wednesday after jumping 3 percent in the previous session.
  • The outlook for gold does not look very bullish heading into the next year, with several traders and brokerages predicting a drop in prices to $1,000 or below early in 2016.
  • The Sensex rose 48.81 points to 26128.29 and the Nifty advanced 12.10 points to 7941.05.
  • Asian shares glided higher in early trading, although investors are cautiously watching whether renewed selling in crude oil futures will dent sentiment. 
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