Tuesday, 13 October 2015

Bullion tips : Today, Gold steadied near a 3-month high 13 Oct, 2015

Bullion tips & calls


Bullion tips - Today, Gold steadied near a 3-month high, as investors pushed back hopes of a Fed Reserve interest rate increase to up coming year and on a weaker dollar.

Spot gold was little changed at $1,161.96 an ounce by 0037 459GMT, after a 2-day rally. It hit a three-month high of $1,169 in the preceding session.

The dollar languished around 3-week lows against a basket of currencies.

The Fed was estimated to raise US rates for the first time in nearly a decade current year, but recent weak US data, concerns over Chinese growth & volatility in financial markets have prompted markets to shift rate hike views to early 2016.

Platinum went down around 1 per-cent after striking a month high of $998.50 an ouncein the previous session. Palladium also eased.


Among other precious metals, silver dipped 0.2 per cent to $15.79 an ounce, though it wasn't too far from a 3-1/2-month high of $16.10 hit last week.

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