Life @ TradeIndia Research

Wednesday 24 August 2016

COMMODITY GOLD NEWS, INTERNATIONAL MARKET UPDATE

Gold was mostly unchanged early on Wednesday as investors remained on the sidelines waiting for clues from the US Federal Reserve later this week on whether it will raise rates this year. 

Commodity Tips INTERNATIONAL MARKET UPDATE
GOLD $ 1340.45
SILVER $ 18.877,
COPPER $314.05,
CRUDE OIL $ 47.40,
INR 67.105.
FUNDAMENTALS
* Spot gold was nearly flat at USD 1,338.20 an ounce at 0059 GMT.


* US gold slipped 0.3 percent to USD 1,342.60 an ounce.

* Amid conflicting signals from the Fed in recent days, central bankers from around the world will gather from Aug. 25 for an annual meeting in the mountains of Jackson Hole, Wyoming, with Fed chair Janet Yellen due to speak the following day.

* Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners. Now they are suspending operations as a surge in smuggled bullion wipes out wafer thin margins.

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