Equity Tips:- Gold Prices Inch Up As Equities Slide

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Gold prices edged higher on Wednesday as most global stock markets fell and as the U.S. dollar eased below an over three-month high hit in the previous session.

 

Fundamentals

 

* Spot gold was up 0.1 percent at $1,330.96 per ounce at 0058 GMT. Prices on Tuesday rose 0.5 percent to break a three-session losing streak.

 

* U.S. gold futures were steady at $1,332.60 per ounce.

 

* The dollar index , which measures the greenback against a basket of currencies, was little changed at 90.800, lower than 91.076 hit in the previous session, its strongest level since Jan. 12.

 

* U.S. consumer confidence rebounded in April and new home sales increased more than expected in March, pointing to underlying strength in the economy despite signs that growth slowed in the first quarter.

 

* South Africa's mines minister will appeal a court ruling that held that mining companies did not have to maintain at least 26 percent black ownership in perpetuity, the Department of Mineral Resources (DMR) said on Tuesday.

 

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Comments

  1. Rudra Investment4 May 2018 at 14:53

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