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Gold up 1% as attack on Saudi facilities boosts safe-haven assets

Gold gained 1% on Monday after attacks on oil facilities in Saudi Arabia fueled concerns of a further escalation in Middle East tensions and pushed investors toward safe-haven assets. Spot gold climbed 1% to $1,503.31 per ounce.  U.S. gold futures settled up 0.8% at $1,511.50. “The Saudi Arabian situation is driving gold prices higher as people are looking for havens, (watching out) for any negative fallout, both economic and political,” said George Gero, managing director at RBC Wealth Management “Gold…

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Gold futures up on positive domestic cues

Gold prices rose 0.02 per cent to Rs 34,717 per 10 gram in futures trade on July 30 as speculators extended exposure amid firm domestic cues. On the Multi Commodity Exchange, gold contracts for August delivery increased by Rs 8, or 0.02 percent, to Rs 34,717 per 10 gram in a business turnover of 11,279 lots. The precious metal to be delivered in October traded up by Rs 69, or 0.2 percent, to Rs 35,452 per 10 gram in a business turnover of…

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Gold dips on firmer dollar, profit-taking; focus on ECB outcome

Gold prices eased on Thursday as the U.S. dollar hovered near multi-week highs, while some investors locked-in profits ahead of major central bank meetings this month. The European Central Bank is meeting later in the day, followed by the U.S. Federal Reserve next Tuesday-Wednesday. Spot gold was down 0.2% at $1,422.80 per ounce, as of 0303 GMT. U.S. gold futures were down 0.1% at $1,422.90.   “From last three days, gold prices have been range-bound. Some money managers are starting…

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OMC stocks climb as crude oil price drops; IOC gains 3%

Shares of Oil Marketing companies (OMCs) extended gain in the morning trade after crude oil prices fell over concerns of weakening global demand in oil markets. The BSE Oil & Gas index rose ~1% at 14,218 led by IOC, IGL, GSPL and ONGC. Shares of Indian Oil jumped 3%, followed IGL, GSPL, ONGC, HPCL and Reliance, which gained 1% each. Crude oil price fell on Tuesday on concerns that the Sino-US trade dispute might drag on for a while, even…

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Gold steadies off 1-month peak on Sino-U.S. trade talk hopes

Gold steadied on Wednesday after retreating from a one-month peak in the previous session as Washington and Beijing decided to further their discussions on trade, soothing investor concerns around a full-blown trade war. FUNDAMENTALS – Spot gold was steady at $1,297.45 per ounce at 0136 GMT. – U.S. gold futures were also steady at $1,298 an ounce. – U.S. President Donald Trump on Tuesday called the trade war with China “a little squabble” and insisted talks between the world’s two…

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MCX stock soars 4.5% after PAT rises 78% in Q4FY19

Multi Commodity Exchange of India Ltd (MCX), India’s largest exchange in the commodity derivatives segment, reported 78% increase in its March quarter net profit at Rs60.95cr against Rs34.15cr logged in the same period last year. Its total income increased by 15% to Rs110.80cr from Rs96.58cr over the corresponding quarter ended March 31, 2018. While the operating income registered a growth of 12% to Rs79.14cr from Rs70.58cr in corresponding Q4FY18. EBITDA for the quarter ended March 31, 2019 increased by 16% to…

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Gold firms on weak German data, strong dollar caps gains

Gold prices edged up on Thursday as weak data from Germany and a dip in equities raised flags about the pace of global economic growth, while a firm dollar curbed further gains for the metal. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe’s largest economy, leaving domestic demand to support slowing growth. Spot gold was up 0.1 percent at $1,276.19 per ounce, as of 0335 GMT. U.S.…

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Gold gains on tepid dollar; focus on U.S.-China talks

Gold gained on Thursday as the U.S. dollar traded close to its one-week low posted in the previous session, while investors awaited progress on the ongoing Sino-U.S. trade negotiations after reports showed that both sides were nearing a deal. Spot gold rose 0.2 percent to $1,292.24 per ounce as of 0537 GMT. U.S. gold futures firmed 0.1 percent at $1,296.60 an ounce. “One of the key issues would be the China-U.S. trade negotiations. There is a lot of optimism around…

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Oil prices edge higher, but future demand concerns cap gains

Oil prices crept up on Wednesday, extending the previous session’s rise, but gains were kept in check amid growing fears over the impact of a global economic slowdown on demand. Brent was up by 17 cents, or 0.3 percent, at $68.14 by 0311 GMT, reversing earlier losses of a similar magnitude. On Tuesday, the global benchmark rose 76 cents to $67.97 a barrel, not far below its year-to-date high of $68.69, reached on March 21. U.S. crude futures added 9…

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Gold steady on firmer dollar ahead of ECB policy meeting

Gold prices steadied on Thursday as dollar traded near its more than two-week high, while lacklustre appetite for riskier assets offered some support to the safe-haven metal ahead of European Central Bank’s (ECB) policy meeting due later in the day. Spot gold was down 0.1 percent at $1,284.59 per ounce, as of 0722 GMT. Earlier in the session, the bullion rose 0.1 percent to $1,288.34 per ounce. U.S. gold futures slipped 0.2 percent to $1,284.90 an ounce. The dollar index,…

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