Wednesday, 10 August 2016

Live Commodity Market Updates ; Gold climbs as dollar falls on weak US data

Today in Commodity Market Gold rose early on Wednesday, holding gains from the previous session as the dollar fell, with investors evaluating the likelihood of a Federal Reserve rate hike after a weak U.S. productivity report. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here or give a One Missed Call @7879881122.

* Spot gold had risen 0.4 percent to $1,346.18 an ounce by 0107 GMT. Bullion ended up 0.4 percent on Tuesday.
* U.S. gold was up 0.4 percent at $1,352.10 an ounce.
* Asian shares held near one-year highs on Wednesday as investors pared expectations slightly for a Fed interest rate increase following weak U.S. productivity data, which drove the dollar and Treasury yields lower.
* The dollar index, which gauges the greenback against a basket of six major currencies, fell 0.4 percent to 95.831 .
* An unexpected drop in productivity may confirm the Fed’s worst fears of a U.S. economy slipping into an extended period of slow growth with little it can do about it.
* British industrial output grew at the fastest rate since 1999 in the second quarter of this year, with “very few” respondents reporting an impact from uncertainty around June 23’s vote to leave the European Union.
* Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, dropped 0.12 percent to 972.62 tonnes on Tuesday.

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