Gold prices pared some of its recent gains on Tuesday, ahead of the outcome of the U.S. Federal Open Market Committee decision due out on Wednesday. Last week, gold prices jumped when the World Bank released its latest report regarding the global economy. After trading at around $1,260 an ounce, prices broke above $1,270 an ounce.
Crude oil for delivery in August rose to a
session high of $106.45 a barrel, before trimming gains to last trade at
$106.38 during European morning hours, up 0.48%, or 51 cents. Wednesday’s
government report was expected to show that U.S. crude oil stockpiles fell by
650,000 barrels last week, while gasoline stockpiles were forecast to decrease
by 113,000 barrels.
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Equity benchmarks started off the week on a positive note Monday, with the Nifty reclaiming 10,150 level on short covering after over a percent loss seen in previous week. The market opened after a long weekend.Share Tips Expert
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