Gold Climbs Towards 7-Week High as Dollar, Equities Slide 0

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Singapore(Sharemasterindia.com): Gold edged towards a seven-week high on Thursday as a sell-off in global equities and the dollar burnished the metal’s safe-haven appeal, though weaker oil prices capped gains.

The dollar index fell for a fourth session in a row on strength in the yen, while Asian stocks eased on global growth concerns.

Gold is seen as an alternative investment to riskier assets such as equities. Weakness in the greenback also makes dollar-denominated bullion more attractive.

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Sensex Falls 250 Points, Nifty Below 8,300 0

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Sharemasterindia.com: Indian stock markets tumbled after a flat start on Thursday with the BSE Sensex falling over 250 points or 0.8 per cent in morning trade. The broader Nifty slipped below the key 8,300 mark for the first time since November 7.

Thursday’s selloff came on the back of weakness in global sentiments. Most stock markets in Asia traded with deep cuts after the Dow fell over 200 points overnight. Global markets have been falling because of a crash in energy stocks, which are being weighed down by lower crude prices.

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Brent Crude Oil Below $65/Barrel on OPEC Report 0

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Sharemasterindia.com: The price of oil took another dive Wednesday, plunging to five-year lows amid mounting evidence that global supplies are far outstripping demand.

The U.S. Energy Department reported a surprise increase in domestic oil inventories and OPEC projected that demand for its crude would sink next year to levels not seen in more than a decade.

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