Market Update

Market Watch

Tuesday, 22 March 2016

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Market Outlook:-

  • Gold steadied on Tuesday after falling for three days.
  • Spot gold was trading up 0.1 percent at $1,244.3 an ounce by 0059 GMT.
  • U.S. gold was up 0.1 percent at $1,245.30 a tonne.
  • The United States may be in line for an interest rate hike as soon as April.
  • Asian stocks wobbled on Tuesday as the hawkish comments from Fed officials stoked uncertainty about policymakers' intentions less than a week after Fed Chair Janet Yellen had set out a more cautious path to rate increases this year.
  • Sale of 135,148 ounces of gold bullion at average price of $1,260/ounce for proceeds of $170.3 million.

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