 |
| capitalstars financial research pvt ltd |
BULLION:-
Gold prices inched up on Wednesday after hitting their highest in over three months in the previous session, as global political and economic uncertainties underpinned safe-haven support for the metal. Spot gold XAU= was up 0.1 percent at $1,230.96 an ounce at 0751 GMT. On Tuesday, it touched its highest since July 17 at $1,239.68. Meanwhile, markets awaited British Prime Minister Theresa May's key address to Conservative Party lawmakers in parliament due later on Wednesday, as she seeks to calm growing tensions over her Brexit strategy. denominated gold is used as an alternative investment during times of political and financial uncertainty. While the dollar is also considered a safe haven currency, weakness in U.S. equities has tended to undercut its appeal especially as talk of a peak in U.S. corporate earnings has raised concerns about the outlook for economic growth.
ENERGY:-
Oil slipped to around $76 a barrel on Wednesday, paring losses after hitting its lowest since late August, pressured by concern that demand is weakening and supply ample even as U.S. sanctions loom on oil exporter Iran. In a sign supply is plentiful, industry group the American Petroleum Institute said on Tuesday U.S. crude stocks had risen by 9.9 million barrels - more than forecast. The U.S. government's supply report is due at 1430 GMT. "Rising oil inventories and growing petro-nations' output calm the supply fears related to the Iran oil embargo," said Norbert Ruecker, head of macro and commodity research at Swiss bank Julius Baer. A sell-off in equities due to concern about the economic outlook also weighed on crude on Tuesday. Forecasters such as the International Energy Agency already expect slower oil-demand growth for 2019 due to a slowing economy.
CapitalStars Financial Research Forex trading tips stock market tips Share Tips Expert
Get free trial Click here: http://www.capitalstars.com/free-trial
www.capitalstars.com |T:+91-9977499927
No comments:
Post a Comment