Thursday, 3 March 2016

Today's Mcx Commodity News on Precious Metals

Latest Updates of Commodity Market Only at

Gold on MCX settled up 0.39% at 29339 as the U.S. dollar turned lower, shrugging off a turn higher in global shares and better-than-expected U.S. economic data. The metal left February with the sharpest monthly gain in four years (almost 10%) as concerns over global economic growth spurred demand for safe-haven assets and boosted fund buying.

Silver on MCX settled up 1.15% at 36504 amid a slightly higher dollar, as solid U.S. private sector employment data provided optimism on the near-term outlook of the U.S. economy ahead of Friday's critical jobs report. The ADP Research Institute said nonfarm private employment rose by 214,000, last month, topping expectations for gains of 190,000. It came after ADP downwardly revised employment data in January by 12,000 to 193,000. While ADP's forecasts do not always mimic the results from the Labor Department's monthly report, their predictions have been fairly accurate over the last two months.

No comments:

Post a Comment