Gold Live Report By CapitalHeight

Gold retained overnight gains in Asian trading on Wednesday on weakness in the dollar and equities, but investors remained cautious after Federal Reserve officials talked up the prospect of US interest rate increases this year. For More Information visit www.capitalheight.com/bullion-premium.php

• Spot gold was little changed at USD 1,278.65 per ounce at 0042 GMT, after gaining 0.5 percent on Tuesday.
• Gold has rallied 20 percent this year on speculation that the Fed has slowed its expected pace of rate increases on concerns over the volatility in global markets.
• SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.56 percent to 855.89 tonnes on Tuesday, the highest since November 2013.
• Asian shares stepped back on Wednesday after strong US inflation data and comments from Fed officials rekindled the prospects of the central bank raising rates later this year.
• Oil prices rose for a second straight day on Tuesday, with US futures hitting seven-month highs, on expectations of a drawdown in US crude stockpiles and a new wildfire threat on Canadian oil supplies.
• International Brent crude futures were trading at USD 49.31 per barrel at 0047 GMT, 3 cents above their last settlement, while US West Texas Intermediate crude futures were unchanged at USD 48.31 a barrel.

MCX Market Live Update By CpitalHeight

Gold was set to post its biggest weekly decline in six weeks on Friday. For More Information Visit
www.capitalheight.com/bullion-premium.php

     Spot gold was little changed at $1,278.70 an ounce by 0318 GMT.

      Gold is sensitive to interest rates as rising rates lift the opportunity cost of holding non-yielding bullion.

       Among other precious metals, silver was poised for a near 3 percent weekly loss, after four weeks of gains. Platinum  was down 1 percent, snapping a five-week winning streak, while palladium was set to post a 4 percent loss for the week.

                 PRICES AT 0318 GMT   

         Metal                     Last        Change           Pct chg

        Spot gold               1278.7      1.04               0.08

        Spot silver             17.29      -0.036             -0.21

        Spot platinum       1062.3      4.56             0.43

        Spot palladium      600.5        3.45           0.58

       Comex gold           1280.9          8.6          0.68

       Comex silver          17.38          0.053         0.31

Get Free MCX Tips With Live Market Update

Gold nursed losses on Wednesday, holding below a 15-month high as the dollar firmed after two Federal Reserve officials talked up US interest rate hikes this year.

For More Information Visit www.capitalheight.com/bullion-premium.php

Spot gold was little changed at USD 1,285.19 an ounce by 0033 GMT, after dropping 0.4 percent in the previous session.

 
Gold prices have gained 21 percent since the start of the year on the outlook that the Fed has slowed its expected pace of rate increases. 

Bullion is sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion.

 
Bullion is sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.

          PRICES AT 0029 GMT

 Metal                   Last                  Change          Pct chg

                                            

 Spot gold           1292.9               -0.46               -0.04

 Spot silver          17.78                 -0.04                -0.22

 Spot platinum      1071.99           -2.51               -0.23

 Spot palladium      622.47          -2.03               -0.33

 Comex gold          1295.4            4.9                   0.38

 Comex silver        17.845            0.026             0.15

                                            

 COMEX gold and silver contracts show the most active months.

Get Accurate MCX Trading Tips For Today

For More Information Visit  www.capitalheight.com/bullion-premium.php

Market Outlook:-

 

• Gold ticked higher on Wednesday on a softer dollar and weak U.S. economic data, but the metal traded in a tight range as investors waited for the Federal Reserve's policy decision later in the session.
• Spot gold XAU= had risen 0.2 percent to $1,245.40 an ounce by 0041 GMT.
• Gold prices that hit a 13-month high last month are likely  to fall back in the short term because of a slump in demand from  key Asian consumers.
• Global gold demand tumbled by 24 percent year on year to 781 tonnes in the first three months of the year.
• Asian stocks inched up, while the dollar fell for a third session.
• Crude oil futures rose half a dollar in early Asian trading on Wednesday and remained near 2016 highs on the back of strong investor sentiment and a weak dollar.