Bullion Tips; Latest Gold Update News

The Reserve Bank of India is intervening in the rupee currency futures market. The central bank said in a separate statement issued on late Wednesday it would intervene in the exchange traded currency derivatives market if required. Take a Free Trial of our MCX Bullion Tips and Commodity Tips and gain sustainable profits in MCX and Commodity Market. For 2 Days Free Trial, please visit our site at www.capitalheight.com/bullion-premium.php  or Call at 0731-6615050.

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Gold was treading water on Thursday as investors stuck to the sidelines ahead of a widely anticipated U.S. rate hike next week, with even a slump in the dollar failing to trigger interest in the metal.

                       Spot gold XAU= was little changed at $1,073.31 an ounce by 0043 GMT, after closing down 0.1 percent in the previous session.

                    Bullion investors are cautious as the U.S. central bank is expected to raise interest rates for the first time in nearly a decade at its next policy meeting on Dec. 15-16.

                  Gold was steady despite a 1.1-percent drop in the dollar index .DXY on Wednesday.

Asian stocks slipped on Thursday as weak oil prices continued to feed global growth worries.

                   The Sensex is up 106.93 points or 0.4 percent at 25142.98, and the Nifty is up 31.85 points or 0.4 percent at 7644.35. About 682 shares have advanced, 201 shares declined, and 36 shares are unchanged.

                 Hindalco, Vedanta, Sun Pharma, Reliance and Tata Steel are top gainers while ONGC, Lupin, Dr Reddy's Labs and HDFC Bank are among losers in the Sensex.

Accurate MCX Bullion Tips & Market Outlook for Today

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Market Outlook:- 

• Gold struggled to recover from overnight losses on Tuesday on expectations of a Federal Reserve rate hike next week and a robust dollar.
• Spot gold XAU= was little changed at $1,071.52 an ounce by 0009 GMT. It fell as much as 1.6 percent on Monday to hit a session low of $1,069.66.
• Bullion has lost about 9.5 percent for the year, its third straight annual decline, on expectations of the rate hike.
• The central bank's biggest purchase in five months failed to provide much support for the gold price.
• Oil prices skidded to their lowest level in nearly seven years on Monday as a global glut showed no signs of abating. Stock markets fell.

Today's Bullion Market News By CapitalHeight

• Gold slumped to a near-six-year low on Thursday after comments from Federal Reserve chair Janet Yellen virtually cemented the case for a U.S. rate hike this month.
  
• Spot gold fell 0.2 percent to $1,051.26 an ounce by 0307 GMT.
• Inflation has not gone up since the imposition of Swachh Bharat cess in November, Rajya Sabha was informed.
  Shares of Wipro rose 1.6 percent in early trade on acquisition of Germany-based IT consulting & software company.
• Abhay Laijawala, Deutsche Bank has set December 2016 Sensex target of 29,000 implying an upside of 11 percent.
• The market has opened in red. The Nifty is down 30.20 points or 0.4 percent at 7901.15. The Sensex is down 100.16 points or 0.4 percent at 26017.69.
• The Indian rupee declined in the early trade. It has opened lower by 8 paise at 66.67 per dollar versus 66.59 Wednesday.
• Wipro, Axis Bank, Hero and Infosys are top gainers in the Sensex while ONGC, Hindalco, Bajaj Auto, Tata Steel and Tata Motors are losers.
• crude prices were hovering just above $40 in early Asian trading on Thursday.
• U.S. crude was trading at $40.23 per barrel at 0005 GMT on Thursday, up 29 cents from its last settlement, but down nearly 14 percent since the start of November.
• Gold prices could see another trigger later on Thursday as the European Central Bank announces its policy decision.
• Investors are rapidly pulling out of bullion funds, adding to the pressure on the metal. 

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Shares of ITC, Lupin, Tata Motors, ONGC, HUL, Cipla, Dr Reddy's Labs and Tata Steel were down 1-2 percent. The market extended losses for the second consecutive session today due to selling in FMCG, healthcare, metals and select banks stocks.  CapitalHeight would help you in incurring profits and hence minimizing the risk associated with Indian Commodity Market. For more info visit us at www.capitalheight.com/bullion-premium.php or call at +91 9993066624, 0731 - 6615050.

Live Bullion Market Update By CapitalHeight

Gold jumped nearly 1 percent on Tuesday, extending gains above a near-six-year low on short covering and as the dollar dipped from multi-month highs.
           Spot gold rose to a session high of $1,074.34 an ounce, before giving up some gains to trade up 0.7 percent at $1,071.40 by 0319 GMT. It had gained 0.5 percent on Monday.

           Investors have been positioning for a U.S. rate hike, expected this month at the Federal Reserve's Dec.
            The market has opened in green as investors keep a keen eye on RBI credit policy review and November auto sales data. The Sensex is up 50.76 points or 0.2 percent at 26196.43 and the Nifty is up 22.90 points or 0.3 percent at 7958.15. About 527 shares have advanced, 106 shares declined, and 35 shares are unchanged.
               The Indian rupee gained in the early trade. It has opened higher by 14 paise at 66.53 per dollar versus 66.67 yesterday.
             US stocks slipped on Monday, led by declines in health and consumer shares, as investors braced for policy news from central banks.
            A federal jury in Manhattan found Silver, 71, guilty of all seven counts he faced, including fraud, extortion and money laundering, following a three-week trial.
                 A litre of diesel will cost Rs 46.55 from today compared with the Rs 46.80 now, said Indian Oil Corporation (IOC), the nation's biggest fuel retailer.                     
          The price of petrol was cut by 58 paise per litre and that of diesel by 25 paise, reversing the trend of increasing rates, on global cues. Petrol will cost Rs 60.48 per litre from mid-night tonight in Delhi as against Rs 61.06 (rpt) 61.06 a litre currently.

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The Indian stock market ended flat, after a choppy ride on Monday.   The mood was extremely cautious with investors looking ahead to GDP data and the RBI's monetary policy. The Sensex ended up 17.47 points or 0.07% at 26,145.67.  The Nifty closed at 7935.25, down 7.45 points or 0.09%. Consumer durbles, consumer discretionry and realty stocks found some support. CapitalHeight would help you in incurring profits and hence minimizing the risk associated with Indian Commodity Market. For more info visit us at www.capitalheight.com/bullion-premium.php or call at +91 9993066624, 0731 - 6615050.

Live MCX Market Update with Bullion Tips

Gold hovered close to its lowest in nearly six years on Thursday.

           Spot gold was little changed at $1,071.96 an ounce by 0245 GMT, after dropping 0.4 percent on Wednesday.

           Gold had seen some safe-haven bids earlier in the week after Turkey downed a Russian fighter jet.

Perth Mint will work with ASX Ltd to develop precious metals derivatives that will be traded on the Australian exchange, the companies said on Thursday.

            The Sensex is up 97.50 points or 0.4 percent at 25873.24, and the Nifty is up 17.40 points or 0.2 percent at 7849. About 851 shares have advanced, 228 shares declined, and 72 shares are unchanged.
            Dr Reddy's Labs is down 8.5 percent while Hero, HDFC Bank, Wipro and Lupin are major losers. Sun Pharma, Tata Motors, Infosys, L&T and HUL are top gainers.
           The Indian rupee has opened marginally lower at 66.35 per dollar on Thursday against 66.32 a dollar in previous trading session.
               Asian shares advanced in early trade on Thursday, while growing bets the European Central Bank was gearing up to deliver further stimulus steps kept the euro under pressure.

            Shares of Hero MotoCorp were up 1.5 percent intraday. The US private equity firm Bain Capital will sell shares in Hero MotoCorp via block deal to raise as much as USD 116 million. Bain launched the deal to sell 2.98 million Hero shares in the indicative price band of between Rs 2,570 and Rs 2,600, says Reuters.
               In fresh trouble for Dr. Reddy's Laboratories (DRL), a warning letter has been uploaded on the US Food and Drug Administration website with regards to DRL's plants it had inspected recently. The administrator has identified significant deviations from current good manufacturing practices (CGMP) at three of DRL's plants. The three plants that were inspected earlier by US FDA were Unit VI of Srikakulam Plant, Unit V at Telangana’s Miryalaguda Taluk Plant and Unit VII at the Duvvada Plant in Visakhapatnam. The American regulator says it has identified significant deviations from CGMP at all three plants. For the plant units in Srikakulam and Miryalaguda the deviations lay for manufacturing active pharma ingredients (API's), while for the Oncology Plant at Duvvada, the problem lay with finished pharmaceutical products.
===================================================== Shares of Hero MotoCorp were up 1.5 percent intraday. The US private equity firm Bain Capital will sell shares in Hero MotoCorp via block deal to raise as much as USD 116 million. Bain launched the deal to sell 2.98 million Hero shares in the indicative price band of between Rs 2,570 and Rs 2,600, says Reuters. CapitalHeight provide customized services to our clients as per their requirements. For Accurate Mcx Gold, silver Tips & Market Update  Visit our site www.capitalheight.com/bullion-premium.php Call at 0731-6615050, 9993066624.