Gold Steady After Falling In The Previous Session

Gold was steady early Tuesday after falling in the previous session, with markets assessing whether the latest U.S. jobs data boosted the prospects of an early interest rate hike by the Federal Reserve. 

 

Spot gold  was little changed at $1,354.60 per ounce by 0039 GMT. It fell 0.8 percent on Monday, its biggest decline in nearly two weeks, to close at $1,354.85.

 

U.S. gold was also little changed at $1,356 an ounce. 


Asian stocks held firm around a 2-1/2-month peak on Tuesday, a day after U.S. shares hit a record high thanks to a combination of upbeat U.S. data and expectations of more stimulus around the world.[MKTS/GLOB]

 

Gold miners expanded the global hedge book by another 50 tonnes in the first quarter after hedging on a net basis for a second straight year in 2015, an industry report showed on Monday.

 

South Africa's Sibanye Gold SGLJ.J has started talks with unions about cutting jobs at its loss-making Cooke 4 mine though the largest union in the gold sector has vowed to fight any reductions.

 

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