- Silver futures were trading tad higher during noon trade in the domestic market on Tuesday with all eyes focused on the US Federal Reserve which today begins a two-day monetary policy meet.The world’s biggest central bank is likely to keep interest rates unchanged but could offer some cues over the timing of its next interest rate hike.
- Gold prices extended losses from the prior session in European trade on Tuesday, falling towards a one-month low, as investors readjusted positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day. The Fed is not expected to take action on interest rates at the conclusion of its meeting on Wednesday, but market players will scrutinize its policy statement for fresh hints on the timing of interest rate hikes over the next several months.
- Oil on Tuesday hit its lowest since May, falling towards $44 a barrel, pressured by concerns that a long-awaited rebalancing of the market would be delayed due to excess supply.Brent crude is still up more than 60 percent from a 12-year low near $27 in January, but the rally has petered out on signs that the supply glut will persist and as economic jitters raised concern about the strength of oil demand.
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