ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

Gold steady on weaker dollar, firmer stocks cap gains

China is marketing its yuan gold price to foreign exchanges and Singapore is looking at bringing London`s gold benchmark to users in Asia, in moves meant to boost the region`s exposure and influence in the global bullion market.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Gold steady on weaker dollar, firmer stocks cap gains
An employee shows gold bangles to a customer at jewellery showroom on the occasion of Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, at a market in Mumbai. Photo: Reuters

Gold prices held steady on Tuesday as the U.S. dollar weakened, while rebounding equities capped gains. 

Spot gold was mostly flat at $1,256 an ounce by 0100 GMT. While U.S. gold futures were also mostly unchanged at $1,256.80 an ounce.

The dollar index which measures the greenback against a basket of currencies, was down 0.2 percent at 97.663 after touching seven-month highs Monday.

Asian stocks edged up on Tuesday, though risk appetite was low as weak U.S. markets prompted investors to stay on the sidelines. 

The Federal Reserve is "very close" to its U.S. employment and inflation targets, Fed Vice Chair Stanley Fischer said on Monday.

The Bank of Japan has maintained its optimistic economic view on most of the country`s nine regions, but said some firms are struggling to raise prices due to weak consumption, underscoring the difficulty of removing the public`s sticky deflationary mindset.

Holdings of SPDR Gold Trust , the world`s largest gold-backed exchange-traded fund, rose 0.18 percent to 967.21 tonnes on Monday.

China is marketing its yuan gold price to foreign exchanges and Singapore is looking at bringing London`s gold benchmark to users in Asia, in moves meant to boost the region`s exposure and influence in the global bullion market.

The Shanghai Gold Exchange will collaborate with foreign exchanges and allow them to use its yuan-denominated gold price in developing derivatives products, its chairman said on Monday.

Singapore will study the possibility of bringing the gold benchmark pricing in London to users in Asia, in a move that would also allow market participants in the world`s top consuming region to help set the price of bullion.

Intercontinental Exchange on Monday said it would launch a London gold daily futures contract in February 2017, heating up the race to gain a bigger chunk and increase transparency of a market that is seen as a key global bullion trading centre. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
gold pricesDollarMarketsU.S. gold futuresFederal ReserveShanghai Gold ExchangeSPDR Gold Trustcommodity
Written By: Reuters
Updated: Tue, Oct 18, 2016
08:29 am
Delhi, Reuters
RELATED NEWS
Gold Price Today: Yellow metal within Rs 100 of record high — Check out today's rates in Delhi, Mumbai and other major cities Gold Price Today: Yellow metal within Rs 100 of record high — Check out today's rates in Delhi, Mumbai and other major cities
'Gold prices on the upward trend, to touch Rs 60,000/10 gms soon' 'Gold prices on the upward trend, to touch Rs 60,000/10 gms soon'
Gold price today: Yellow metal hits record high, above Rs 56,200 - check rates in Delhi, Mumbai, Kolkata, Chennai and other cities Gold price today: Yellow metal hits record high, above Rs 56,200 - check rates in Delhi, Mumbai, Kolkata, Chennai and other cities
Gold Price Today: Gold above Rs 55,000 on MCX - Check rates in Delhi, Mumbai and other cities Gold Price Today: Gold above Rs 55,000 on MCX - Check rates in Delhi, Mumbai and other cities
Gold prices top Rs 54,000 on MCX first time since mid-April - Buy call; check rates in Delhi, Mumbai, Kolkata, Patna and other cities Gold prices top Rs 54,000 on MCX first time since mid-April - Buy call; check rates in Delhi, Mumbai, Kolkata, Patna and other cities

LATEST NEWS

Vivo X90, X90 Pro Launch today: Check specifications, features, camera and other details

Amul milk price hiked by Rs 2 per litre from today: Here's how much Amul Taaza, Amul Gold, Amul Cow Milk will now cost

SBI Q3 Results: Net profit jumps 68.5% to record Rs 14,205 crore, far exceeds analysts' expectations

Govt expects 'fabulous' response to revamped I-T regime: CBDT chief

Meta share price rockets 24% - here is why

Recognised startups not to face impact of proposed changes in income tax laws: DPIIT secretary

Mahila Samman Saving Certificate: New small savings scheme for women announced in Budget 2023 | Check Where and How to Open Account, eligibility, interest rate, maturity, Tax benefits - All you need to know

Anil Singhvi strategy for February 3: Key market triggers, important levels to track in Nifty50, Nifty Bank

Paytm shares under pressure ahead of Q3 results — what should investors do?

Petrol, diesel prices hiked by Rs 2 per litre in THIS state

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV