Thursday, 21 January 2016

Daily Mcx News On Gold

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Gold dropped early on Thursday in Asia, slipping from a 1-1/2-week high, as battered stocks bounced back along with US crude.


*Spot gold was off 0.2 percent at USD 1,099.40 an ounce by 0039 GMT, after touching USD 1,109.20 on Wednesday, its highest since January 8.
*US gold for February delivery slipped 0.6 percent to USD 1,099.60 an ounce.
*Bullion has benefited from the risk-averse sentiment that has dragged equities and oil to multi-year lows and pushed investors towards assets deemed as safe havens.

*Asian shares and the dollar edged higher, but investors remained cautious as another shakeout on Wall Street and oil prices suggested volatility in financial markets will continue to temper risk appetite.
*US crude oil stabilised after hitting fresh 2003 lows the session before, but analysts said a persistent global glut would keep pressuring prices.

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