Gold rose 1% most in almost three weeks ahead of Russia-Ukraine talks

Gold rose 1% most in almost three weeks ahead of Russia-Ukraine talks

Gold rose more than 1% on Tuesday in US comex speculation on the price of nearly two-month animate physical buying as investors weigh the tension in Ukraine and the Middle East.

Russian President Vladimir Putin will meet with his Ukrainian counterpart Petro Poroshenko as tensions erupt in the frontier of the two countries.

The leaders attend the talks today with the representatives of the European Union in Minsk, Belarus, during a summit of the Customs Union, a trading block led by Russia. No independently bilateral meeting is still planned among them the Russian Foreign Minister, Sergei Lavrov, said yesterday.

Comex Gold December futures rose 0.99%, or $ 12.60, to trade at $ 1291.50 a troy ounce during early European morning hours. Futures traded on an range between $ 1276.20 and $ 1291.70 an ounce. Prices rose as much as 1.1%, the biggest intraday gain since Aug. 6.

Bullion dropped to a two-month high of $ 1,273.14 an ounce on Aug. 21, on expectations that the Federal Reserve may raise rates before than expected. Fed President Janet Yellen given to understand in an address at Jackson Hole, Wyoming the following that of timeline for increases in the rates day could come forward, with US policymakers and peel back the asset purchases.

In the meantime, at MCX Gold prices advanced on Tuesday. MCX Gold December contract was trading at Rs 27960 up Rs 100, or 0.36 percent.

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter and Like on Facebook.  And to contact the reporter on this story email at support@100mcxtips.com or Call: +91-761-4012307

Posted in Commodity, MCX

Gold decline two-month low on Fed reserve rates outlook

Gold decline two-month low on Fed reserve rates outlook

Gold and silver still continues to decline. Gold prices in the international market at the lower level of the last 2 months. And investors evaluated whether the US economy is sufficiently strong for the Fed reserve to raise rates.

Fed President Janet Yellen said on 22 August that policymakers need the reassurance that the American economy is on a solid base prior to increasing interest rates and the debate is moving towards reduce extraordinary accommodation when . On speculation that the Fed decrease the stimulus as the economy recovered spurred a 28 percent drop in gold last year. While borrowing costs have been near zero since December 2008, the Fed has cut per month buying bonds at each of the last six meetings.

Gold for December futures delivery traded at $1,279.30 an ounce on the Comex from $1,280.20 on Aug. 22. Spot Gold lost as much as 0.5 percent to $1,274.45 an ounce, and traded at $1,278.27 in Singapore.

“At MCX gold is 0.2 per cent decline to Rs 27,760.  Silver is trading below Rs 42000. Indeed, interest rates in the United States is likely to grow next year. The dollar is bouncing at 11-month high.” 100McxTips said.

“At MCX silver is trading below Rs 42000. Silver for spot market fell as much as 0.7 percent to $ 19.30 an ounce, the lowest since June 12, before trading little changed at $ 19.4136 ” they added.

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter and Like on Facebook.  And to contact the reporter on this story email at support@100mcxtips.com or Call: +91-761-4012307

Posted in Commodity, MCX

Gold futures gain above a two-month low ahead of Yellen speech

Gold futures gain above a two-month low ahead of Yellen speech

Gold futures value gained on Friday, moving away from two-month lows as the markets were nervous ahead of a highly anticipated speech by U.S. Federal Reserve Chairwoman Janet Yellen and European Central Bank President Mario Draghi at the Jackson Hole Economic Policy Symposium later Friday.

On the U.S. Comex division Gold for December delivery rose 0.4 percent to $1,280 an ounce.

Gold for immediate delivery rose as much as 0.3 percent to $1,281.07 an ounce, and traded at $1,280.12 in Singapore.

100McxTips analysts expect the lady Yellen to calm the markets that interest rates will stay low for quite some time, despite Fed minutes demonstrated earlier this week that officials had argued a walk before.

Gold at 2 week lows on Thursday as minutes of the Fed Reserve last meeting signaled that policy makers may increase borrowing costs earlier than expected.

Now investors looked ahead to the second day of the annual meeting of the Federal Reserve’s major central bankers and economists in Jackson Hole, Wyoming.

Bullion has fallen 1.9 percent this week, while the dollar climbed to an 11-month low versus the euro on signs that the US is recovering, while Europe’s economy falters. Data from this month showed that home sales rose and construction speeded up while growth in the euro zone stalled at the second quarter.

“Gold’s early edge has now been reduced. The international market has dropped to its lowest in the last 2 months. Gold has tumbled nearly 2 percent this week, the biggest weekly decline since May. In America, unemployment decreases and, on the upper level of home sales over the past 10 months, reaching clear indications of recovery in the US economy. So, before expecting there is increased likelihood of a rate cut. 7:30 pm IST today’s speech in Jackson Hole Fed chairman is going to have to look at which world markets.” 100McxTips analysts said.

At MCX Gold October futures contract was trading up at Rs 27,838 or 0.30 percent in early morning trade.

 

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter and Like on Facebook.  And to contact the reporter on this story email at support@100mcxtips.com or Call: +91-761-4012307

Posted in Commodity, MCX

Gold at 2-week lows in the international market on Fed Minutes

Gold at 2-week lows in the international market on Fed Minutes

With declining in the international market, gold is trading at 2-week lows. Gold extended losses to a fifth session on Thursday  as minutes of the Fed Reserve last meeting signaled that policy makers may increase borrowing costs earlier than expected.

Spot gold was hit a record low two-week high of $ 1284.80 an ounce and traded down 0.5 percent on the day at $ 1285.81.

Gold for December delivery dropped as much as 0.8 percent to $1,285.20 an ounce on comex.

Gold was pushed lower by the Fed minutes, and a tendency over the short term looks weak since the prices extend declines, “said 100McxTips. Gold is under pressure due to the strong dollar also.

Dollar traded at 11-month highs against a basket of major currencies by the slightly aggressive tone in the minutes of the central bank of the United States.

Data on Thursday in the United States the weekly unemployment claims and the euro zone manufacturing data from the United States should be the coming gold triggers, and markets are also awaiting reviews from Fed Chairman, Janet Yellen, in a meeting of central bankers in Jackson Hole ‘on Friday.

Investors worried that strong data may lead the Fed to hike rates soon. Highest interest rates would dull the appeal of not accruing interests assets such as gold.

Holdings in the SPDR Gold Trust expanded yesterday for a third day, the longest stretch of increases since February.

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter and Like on Facebook.  And to contact the reporter on this story email at support@100mcxtips.com or Call: +91-761-4012307

Posted in Commodity, MCX

Gold prices below $1,300 in Asia trade ahead of Fed minutes release

Gold prices below $1,300 in Asia trade ahead of Fed minutes release

Future prices of gold held below $ 1,300 an ounce after withdrawing for three days on Wednesday before the publication of recent minutes meeting of the Federal Reserve board and recent optimistic economic data from the U.S.

Gold for December futures delivery was at $1,296.40 an ounce on the Comex, after hitting an overnight intraday session low of $1,295.00 and off a high of $1,303.30.

“In recent days, gold has been giving lower back to the $ 1,300. Now that it has broken through that level, now has its eyes at the level of previous support at $ 1.290.” 100McxTips said.

During the night the prices of gold futures fell on Tuesday after upbeat U.S. housing and consumer inflation laid the foundation expectations that the Federal Reserve chip away at its ultra-loose monetary policy which have supported the precious metal for years.

The Federal Reserve releases minutes today of its July 29-30 meeting, when it cut asset purchases for a sixth time, after data yesterday showed home construction rebounded and the cost of living rose at a slower pace.

Gold futures immediate delivery was at $1,295.49 an ounce in Singapore from $1,295.73 yesterday, when the metal capped the three-session, 1.4 percent decline, according to Bloomberg generic pricing.

Holdings in the SPDR Gold Trust posted the first back-to-back gain yesterday since the two days to July 23.

At MCX Gold December futures contract was trading at Rs 28285 down Rs 14, or 0.05 percent in early morning trade. Gold touched an intraday session high of Rs 28329 and an intraday session low of Rs 28275.

 

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter and Like on Facebook

Posted in Commodity, MCX

Gold rises in Comex after 3 Days amid U.S. inflation and housing data

Gold rises in Comex after 3 Days amid U.S. inflation and housing data

Gold futures prices rose for the first time in three days in comex on Tuesday following the release of U.S. inflation and housing data.

On the new York Comex division Gold for December delivery  modest rises 0.3 percent to $1,302.80 an ounce during U.S. morning hours.

It reached $1,293 on Aug. 15, the lowest since Aug. 6. Bullion for immediate delivery rose 0.3 percent to $1,301.98 in London, according to Bloomberg generic pricing.

Gold rose 8.4 percent this year, partly as riots, it helped demand for the fuel. Ukrainian government forces took control of one of four districts in the Russian separatist stronghold of pro Luhansk, such as Red Cross said it is working towards agreement on details of a plan of safe passage for a convoy of Russian help. Discussions about the cessation of fighting stalled yesterday. Israel and Palestinian militants have agreed to extend their five-day truce for 24 hours in another attempt to reach a long-term agreement.

A day earlier, US gold futures shed 0.53% or $ 6.90, to settle at $ 1299.30 as US stocks rose on the back of data trust of builders optimistic Americans and means of alleviating concerns about the conflict in eastern Ukraine.

The Department of Commerce of the United States said that the number of of building permits granted last month rose 8.1% to a seasonally adjusted 1.052 million units in the June total of 973,000. Analysts had expected building permits to rise by 2.5% to 1.0 million units in July.

The report also showed that housing starts in the United States soared 15.7% last month to hit a seasonally adjusted 1.093 million total of 945,000 units in June, exceed the expectations of an increase of 8.6% to 969,000 units.

At the same time, the Department of Labour said the United States consumer prices increased a seasonally adjusted 0.1% last month, meeting estimates, after expanding 0.3% in June.

In consumer prices excluding food and energy costs, rose by a seasonally adjusted 0.1% last month, compared with expectations for a 0.2% rise.

Core CPI increased at an annualized pace of 1.9% in July, in line with expectations with no changes from a month earlier.

Market participants now directed their attention to Wednesday’s release of minutes from the July policy meeting the Federal Reserve and the comments of the three-day conference of the Fed in Jackson Hole, Wyoming, begins on Thursday to more clues about the time the future interest rate hikes.

” MCX Gold October contracts prices decline yesterday by nearly 1%  to Rs 28,400 per 10 grams in futures trade today amid a weak trend overseas and profit-booking by profitters. Today gold prices are expected to face resistance at Rs 28420-28450 and selling can be seen there. On lower side price can test Rs.28130. Prices should not move above Rs.28600 to hold negative view for the day. ” 100McxTips Commodity Experts said.

 

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter and Like on Facebook

Posted in Commodity, MCX, Stocks Market

Amid rising geopolitical turmoil, safe havens assets oil-gold gain, markets slip

Amid rising geopolitical turmoil, safe havens assets oil-gold gain, markets slip

For several months appears to nothing could to dissuade investors they repeatedly sent stocks to record levels. But as they fears spread that interest rates could eventually start raising and conflict were stepped up in Ukraine, Iraq and Gaza, signs have sprung as investors may eventually get anxious.

Such signals could be found in the equity and bond markets this week. Stock prices have gyrated while a measure having market volatility remained high and investors fled the junk-bond risk. In the meantime, demand for low risk  government bonds have rocketed.

BSE Sensex and the Nifty fell more than 1% on Friday, marking their third consecutive session of declines. The broader Nifty also closed below its 50-day moving average for the first time since 21 February, sparking worries of a further sell-off. Sensex lost 1.02%, or 259.87 points, to end at 25,329.14, also falling 0.6% to mark its second straight weekly fall.

Global shares tumbled on Friday on rising worries of another drawn-out conflict in the region.  Standard & Poor’s 500 has fallen 2.8 percent since it last reached a record high on July 24, and the Dow is now 3.4 percent below its last record close on July 16.

100McxTips Commodity Analysts said surely these movements were hooked to the growing geopolitical turmoil, which reached a crescendo Thursday night when President Obama announced that he had authorized airstrikes against militants in Iraq.

In a measure that could watch the money is moving out from emerging markets and back to safe havens assets, US warplanes on Friday hit targets in Iraq after the decision of President Barack Obama to authorize airstrikes on militants fighting the government of that country. Seizures that investors take risk away from the table saw in emerging markets of the United States Treasury, while the European stock markets gathering Asian stocks skidded and came to a seven-week low. The USA 10-year yield fell 2 basis points to 2.39% and touched 2.35%, the lowest since June 2013.

WTI Crude for September delivery rose 31 cents to $97.65 a barrel on NYMEX Exchange in volume that was 4.1 percent above the 100-day average. Brent crude oil was trading 1% higher at $106 a barrel in the futures market while the yen advanced against all but two of its 16 major peers.

Gold prices again crossed the Rs 29,000 mark to hit over two-month high by rising Rs 300 to Rs 29,100 per 10 gm in Delhi on Friday, mostly in tandem with a firming trend overseas as worsening tensions in Iraq fuelled safe-haven demand.

Experts say that markets may well look beyond sales. Whilst markets fell on Friday, the sale was not heavy. Before anyone recovery takes place, we could see been a strong correction on the markets and would remain wary of buying this autumn. For the week, FIIs investors have bought $ 431 million worth of shares, taking his tally for the year to date to $ 12.10 billion. Over 1.8 billion has been wiped off the value of shares worldwide in the past two weeks.

 

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter and Like on Facebook

Posted in Commodity, Stocks Market
Contact & Visit Info
+91-761-4012307
M-Sat : 10am - 7pm
Follow

Get every new post delivered to your Inbox.