Tuesday, 16 February 2016

Best Mcx Market News On Gold

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Gold stretched its losses into a third session and tumbled below $1,200 an ounce on Tuesday, as easing concerns over the global economy buoyed stocks and hurt safe-haven demand for the metal.

Bullion's three-day loss of more than 4 percent, its biggest such drop in seven months, takes the precious metal further away from a one-year high reached last week and threatens to undo a rally that has seen prices gain 13 percent so far this year.

Spot gold fell 1.5 percent to $1,191.40 an ounce by 0415 GMT, after earlier hitting a session low of $1,190.40. The metal slid 2.3 percent on Monday, its biggest slump since July.

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