Market Update

Market Watch

Wednesday, 10 February 2016

Bullion MCX Tips, Today Commodity Gold News


  • Gold was holding near a 7-1/2-month high on Wednesday as risk aversion sent investors to the safe-haven asset amid a tumble in global stock markets and concerns over the global economy.
  • Spot gold ticked up 0.2 percent to $1,190.81 an ounce by 0042 GMT. The metal had climbed to $1,200.60 on Monday, the highest since June 2015.
  • Bullion has recently rallied along with other safe-haven assets such as the Japanese yen and U.S. Treasuries.
  • Asian stocks dipped early on Wednesday amid banking sector concerns, while European shares plunged for a second straight day on Tuesday.
  • Gold prices in India slipped to a record discount as traders struggled to draw buyers. Dealers were offering a record discount of up to $25 an ounce.
  • The market has once again opened lower with Bank Nifty hitting fresh 52-week low. The Sensex is down 129.36 points or 0.5 percent at 23891.62, and the Nifty slips 35.25 points or 0.5 percent at 7262.95. About 197 shares have advanced, 444 shares declined, and 34 shares are unchanged.
  • The Indian rupee opened flat at 67.90 per dollar versus previous close of 67.90.
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