Gold Steady on Dollar dip and higher Physical Demand

-

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Gold steadied on Wednesday, largely holding on to gains from the previous session spurred by a retreat in the dollar and healthy physical demand.

Gold had the potential to claw higher in the short term after the dollar pulled back from near nine-month highs and due to increasing appetite from speculators, one analyst said.

"We've seen the dollar rally halted and that may give gold some additional room to manoeuvre to the upside so I'm quietly constructive for gold," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.

"Outside markets are supportive - we're seeing weakness in stock markets, oil is trading lower and the dollar is a tad weaker."

Spot gold was barely changed, down some 0.1 percent at $1,272.46 an ounce by 1033 GMT. In the previous session, it hit $1276.67, its highest since Oct. 5.

U.S. gold futures also edged 0.1 percent lower to $1,273.
The dollar index slipped after rising as high as 99.119 on Tuesday, its highest level since Feb. 1, largely fuelled by expectations of a U.S. rate hike in December.


Comments

Post a Comment

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

-
MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Read more

Axis Bank agrees to buy to payments wallet provider FreeCharge for $60 million

-
Image
Axis Bank Ltd, India's seventh-biggest lender by assets, said on Thursday it had agreed to buy mobile payments wallet provider FreeCharge from e-commerce company Snapdeal for 3.85 billion rupees ($60.04 million). Most valuable Financial Advisory with the name of accurate tips provider here invites you to trade in a financial market with risk-free work click here for more >>  http://www.ripplesadvisory.com/free-trial.php "Digital payments in India are surging. Government policies are driving a less-cash economy," Axis Bank finance chief Jairam Sridharan told a news conference after announcing the deal.
Read more

Axis Bank Declines after Reporting Tepid Q4 Results

-
Image
For more Live premium stock future Visit Us:- http://ripplesadvisory.com/premium-stock-future-.php or Get Free Trials Just Call @96-44-40-50-56. Axis Bank declined 1.72% to Rs 508.40 at 9:40 IST on BSE after net profit dropped 43.13% to Rs 1225.10 crore on 4.33% rise in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 26 April 2017. Meanwhile, the S&P BSE Sensex was down 29.63 points or 0.1% at 30,103.72. On the BSE, 5.08 lakh shares were traded on the counter so far as against the average daily volumes of 9.17 lakh shares in the past one quarter. The stock had hit a high of Rs 525 and a low of Rs 503.60 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 424.60 on 10 January 2017. The stock had outperformed the market over the past one month till 26 April 2017, rising 5.74% compared with the Sensex's 2.42% rise. The sc...
Read more