Commodity updates : Gold futures soared by more than 5 per-cent in the local market on Thursday, whilst marking their best performance in seven years overseas, as investors, scarred by the prospects of dwindling world wide growth, doubting world central banks’ ability to prop up a fading recovery, shunned risky assets, seeking shelter in the safety of the yellow metal.
An ongoing mcx oil price collapse, worries over a China slowdown and renewed fears over the health of the US(United States) economy have strike risk taking appetite, pushing world wide stock markets on the brink of a bear market, bolstering the safe haven appeal of the bullion.Click for Commodity tips
World stocks sank on yesterday as Fed Chair Janet Yellen warned over the risks posed by the worsening financial market turbulence on the US economic overview, conceding that the world’s top central bank is toying with the idea of negative interest rates as a policy tool as recession fears mount. Yellen’s remarks that the Fed may get back the timetable for further interest rate hikes have bolstered the lure for gold as a store of value.
An ongoing mcx oil price collapse, worries over a China slowdown and renewed fears over the health of the US(United States) economy have strike risk taking appetite, pushing world wide stock markets on the brink of a bear market, bolstering the safe haven appeal of the bullion.Click for Commodity tips
World stocks sank on yesterday as Fed Chair Janet Yellen warned over the risks posed by the worsening financial market turbulence on the US economic overview, conceding that the world’s top central bank is toying with the idea of negative interest rates as a policy tool as recession fears mount. Yellen’s remarks that the Fed may get back the timetable for further interest rate hikes have bolstered the lure for gold as a store of value.
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