Tuesday, 19 January 2016

Today's Mcx Market News for Gold

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Gold steadied in early deals on Tuesday as weaker stock and oil prices pushed investors towards safe-haven assets, but slow physical demand in Asia kept bullion under USD 1,100 an ounce. 


* Spot gold was little changed at USD 1,089.20 an ounce by 0035 GMT, after a lethargic session on Monday with US markets shut for the Martin Luther King holiday. 
* US gold for February delivery slipped 0.2 percent to USD 1,088.90 an ounce. 
* Weak physical demand from top gold consumers China and India has limited gold's upside potential, with Chinese consumer spending dented by its slowing economy.
 * China will release its gross domestic product data for the last quarter of 2015 and the past year this morning and economists polled by Reuters show the world's No. 2 economy grew 6.9 percent last year, its slowest in a quarter of a century.

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