Gold inches up from 5- week low as equities witness a dip
DSIJ Intelligence / 21 Jun 2017
Asian investors were on edge on Wednesday due to a renewed slump in oil prices, which reached a 7 months low, overshadowing MSCI to add mainland Chinese stocks to one of its popular benchmarks.
On Wednesday, gold inched up from 5- week lows as equities witnessed a dip.
By 0038 GMT, spot gold surged to 0.2% to $1,245.30 per ounce after slipping as far as $1241 in the previous session.
U.S. gold futures for August delivery witnessed a surge of 0.2% to $1246.3 an ounce.
Asian investors were on edge on Wednesday due to a renewed slump in oil prices, which reached a 7 months low, overshadowing MSCI to add mainland Chinese stocks to one of its popular benchmarks.
After hike in supplies overshadowed the high compliance by OPEC & non OPEC oil producers to trim global output, oil slipped nearly 2% on Tuesday, with Brent settling at 7 months low and U.S. crude at its cheapest level since the month of September.
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