Market Update

Market Watch

Thursday, 17 March 2016

Latest Mcx Gold News With Live Updates

Gold ticked lower on Thursday as the market took a breather after rallying 2.5 percent in the previous session following the Federal Reserve's decision to cut the number of planned interest rate hikes, adding to pressure on the dollar. For 2 Days Free Trial, please visit our site at  or Call at 0731-6615050.

Market Outlook:-

  • Spot gold slid 0.2 percent to $1,259.61 an ounce by 0035 GMT after notching its biggest one-day rally in five weeks on Wednesday to a high of $1,264 an ounce.
  • Asian shares gained early and the dollar was on the defensive after suffering substantial losses following the U.S. Federal Reserve's move to reduce the number of interest rate hikes planned for this year.
  • Spot gold had slid 0.6 percent to $1,255.07 an ounce by 0236 GMT, after notching up its biggest one-day rally in five weeks on Wednesday to a high of $1,264 an ounce
  • The dollar nursed losses in Asian trading on Thursday after declining sharply following the U.S. Federal Reserve's decision to halve its outlook for interest rate hikes to two from four by the end of this year.
  • U.S. oil prices jumped almost 6 percent on Wednesday, erasing losses of the past two days, after major producers firmed up plans to meet in Qatar to discuss an output freeze and U.S. crude stockpiles grew less than expected.
  • Gains in Asian stock markets and U.S. crude oil futures took their toll on the precious metal's safe-haven appeal.
  • BRIEF-Silver Wheaton Q4 loss per share $0.42.


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