Spot gold edged higher on Tuesday, snapping two sessions of decline, as concerns over China's economic growth and pressure on stock markets lifted the precious metal.
FUNDAMENTALS
* Spot gold firmed 0.2 percent to $1,095.6 an ounce by 0037 GMT, while U.S. gold futures eased 0.1 percent to $1,095.2.
* China's main stock indexes each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.
* Right from the beginning of 2016, markets have been rocked by plunges in Chinese stocks, the yuan's fall and subsequent heavy intervention by the Chinese authorities.
* The chaotic moves have led to worries China's economy may be in for tough time rather than stabilising as some had hoped.
* China is the world's biggest consumer of gold at around 1,000 tonnes a year.
* The yellow metal is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.
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FUNDAMENTALS
* Spot gold firmed 0.2 percent to $1,095.6 an ounce by 0037 GMT, while U.S. gold futures eased 0.1 percent to $1,095.2.
* China's main stock indexes each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.
* Right from the beginning of 2016, markets have been rocked by plunges in Chinese stocks, the yuan's fall and subsequent heavy intervention by the Chinese authorities.
* The chaotic moves have led to worries China's economy may be in for tough time rather than stabilising as some had hoped.
* China is the world's biggest consumer of gold at around 1,000 tonnes a year.
* The yellow metal is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.
MarketMagnify Is a leading Commodity Advisory Company In India.We are Providing MCX TIPS ,BULLIONS TIPS , INTRADAY TIPS on mobile with 90-95% accuracy level.
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