Market Update

Market Watch

Tuesday, 8 March 2016

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  • Gold edged up to trade near a 13-month high on Tuesday, supported by hopes the U.S. Federal Reserve will not raise interest rates as soon as next week's meeting.
  • Spot gold was up 0.2 percent at $1,269.40 an ounce by 0036 GMT, not far from Friday's peak of $1,279.60, its highest since Feb. 3, 2015.
  • U.S. gold for April delivery gained 0.5 percent to $1,269.90 an ounce.
  • Palladium also had a strong day and rose 4.2 percent to $578.50 an ounce, the highest since Nov. 12.
  • Asian shares inched higher after global oil prices soared to three-month highs on growing hopes of more coordinated measures from oil-producing countries to stem tumbling prices.

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