- Oil fell on Tuesday, as investor nervousness over next week’s vote on Britain’s possible European Union exit swept financial markets, eclipsing signs of a return to health for crude prices.Perceived safe-haven assets such as the Swiss franc and German Bunds rallied, while industrial commodities and equity markets, seen as more vulnerable to economic risk, fell after polls showed Britain’s “Leave” campaign leading before a referendum on EU membership.
- Gold futures were lower in European trade on Tuesday, after climbing to a four-week high in the prior session, as investors readjusted positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day. While the Fed is widely expected to leave interest rates unchanged at the conclusion of its policy meeting at 18:00 GMT, or 2:00PM ET, Wednesday, the U.S. central bank could provide guidance on its pace of tightening over the next several months.
- Silver futures were trading lower during the late morning trade in the domestic market on Tuesday as traders trimmed their positions amid tracking weak trend in global markets.Speculators indulged in trimming of positions at existing levels and a weak trend in precious metals globally kept pressure on Silver futures.
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