MCX Market Recent Updates: Gold Is Moving Ahead to Edge Higher

Online, December 18, 2013 (Newswire.com) - •Gold seeks to move higher today after the previous day's slide, ahead of a key US Federal Reserve decision on when to begin rolling back its massive monetary stimulus.

•A statement will be going to issue by the Fed at the end of its two-day policy meeting on Wednesday at 1900 GMT, the last one in a year in which financial markets have been extremely sensitive to any comments on the outlook for the stimulus.

•Spot gold edged up 0.3 per cent to $1,233.10 an ounce by 0252 GMT, after dropping 0.8 per cent in the previous session.

•The metal has lost about 26 per cent of its value this year on growing concerns that an improving US economy could prompt the Fed to scale back its bond purchases.

•SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 2.08 tonnes to 816.82 tonnes on Tuesday - to fresh lows since January 2009.

•Gold futures fell for the first time in three sessions after a report showed no change in the U.S. cost of living in November from a month earlier, reducing demand for the metal as a hedge against inflation.

•Silver futures for March delivery declined 1.3 percent to $19.84 an ounce on the Comex.

•Copper declined for the first time in eight days as investors await the outcome of the U.S. Federal Reserve's two-day meeting starting today amid speculation that the central bank will cut stimulus.

Today's Technical View for Gold and Silver:
GOLD (FEB)
Trend: Consolidate | Strategy: Buy on dips
R1- 29270, R2- 29750| S1-28450, S2- 28080

SILVER (MAR)
Trend: Consolidate | Strategy: Sell on high
R1- 45850, R2- 46700 | S1-43350, S2- 43580

Stock Advisory Company which provides Mcx Tips is the work of research and experience of Stock & Commodity Market. In this section of market the companies provide Tips related to Capital Market both on Intraday and Delivery basis. We also Provide Live MCX Trading Tips, online Commodity Trading Tips, Mcx Tips For Today, Commodity Market Recommendation, Gold silver Tips etc. Get excellent services in accordance with the comfort levels of all traders and investors in stock market. For more details visit www.capitalheight.com.