Market Update

Market Watch

Friday, 1 January 2016

MCX Trading Market New Year Update By CapitalHeight

  • Gold was steady on Thursday but poised to mark its third straight annual loss, ahead of what is likely to be another tough year with the prospect of higher U.S. interest rates and dollar strength.
  • Spot gold XAU= was down 0.1 percent at $1,059.62 an ounce by 1238 GMT.
  • Other precious metals have also been hit by dollar strength and the gold slump, and were headed for sharp annual declines.
  • Silver XAG=, 0.1 percent lower at $13.84 an ounce on Thursday, looked set to end the year down about 11 percent.
  • The U.S. Mint sold a record amount of American Eagle silver bullion coins and saw sales of its gold coins rise by 53 percent this year.
  • The market started off the year 2016 and January series on a negative note Friday after rising 0.6 percent in previous session. The Sensex fell 50.99 points to 26066.55 and the Nifty declined 19.70 points to 7926.65.

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