Market Update

Market Watch

Tuesday, 9 February 2016

Gold Silver Commodity Updates By CapitalHeight



Gold edged up to near its highest since June on Tuesday, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011.
            
Tuesday would mark gold's eighth straight day of gains as investors seek safe havens in the face of instability in other financial markets, although liquidity was slow in Asia with China shut for a week-long Lunar New Year holiday.
           Spot gold was up 0.2 percent at $1,193 an ounce by 0250 GMT. The precious metal rose as high as $1,200.60 on Monday, its strongest since June 22 last year.
Gold stayed near its highest since June at close to $1,200 an ounce on Tuesday.
         Bullion gained 5 percent last week, its biggest such increase since July 2013, boosting gold bull expectations that the price can go higher as global headwinds could make it tough for the U.S. Federal Reserve to raise interest rates this year.
         Asian stocks were scorched as stability concerns put a torch to European bank stocks and sent investors stampeding to only the safest of safe haven assets.
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