- Gold struggled near one-week lows on Tuesday, ahead of a widely anticipated U.S. rate hike by the Federal Reserve.The Fed is expected to raise interest rates for the first time in nearly a decade at the conclusion of its two day policy meeting at 2:00PM ET on Wednesday. The central bank will also release its latest forecasts for economic growth and interest rates.
- Oil prices resumed their decline on Tuesday, one day after bouncing off seven-year lows, as worries that a global supply glut may stick around for longer than anticipated continued to weigh.Oil futures have fallen almost 15% since December 4, when the Organization of the Petroleum Exporting Countries failed to agree on output targets to reduce a glut of oversupply on global energy markets.
- Copper futures were up 0.16% at Rs 319.25 per kg today as speculators enlarged bets, largely in step with a firming trend in base metals at the London Metal Exchange (LME).At Multi Commodity Exchange, copper for delivery in February next year rose 50 paise, or 0.16%, at Rs 319.25 per kg, in a turnover of 4,681 lots.
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