Wednesday 17 April 2019

Gold near four-month low as stocks, dollar weigh

Gold steadied around a 4-month trough on Wednesday, after falling nearly 1 percent in the previous session due to a surge in global equities, while a stronger dollar piled pressure on the metal.

FUNDAMENTALS

- Spot gold was down 0.1 percent at $1,286.38 per ounce, as of 0104 GMT. In the previous session, the metal sank to $1,272.70, its lowest since Dec. 27.

- U.S. gold futures edged up 0.1 percent to $1,278.10 an ounce.

- Stocks around the globe rose on Tuesday to six-month highs as positive economic data in China and Germany boosted investor sentiment.

- Japan's Economy Minister Toshimitsu Motegi said on Tuesday that no agreement had been reached on individual trade issues with the United States after two days of talks with U.S. Trade Representative Robert Lighthizer.

- Standard Chartered on Tuesday forecast the palladium market deficit widening in 2019 and 2020.

MCX Commodity Live Tips

0 comments:

Post a Comment