Gold Futures Prices Fall in Asia US Politics In Focus

Gold Futures Prices Fall in Asia US Politics In Focus

Prices of gold futures remained stable on Monday, while the dollar fell against the yen, with a week of central bank comments on and what is expected to be a record audience for the first discussion between the two leading candidates of US presidential.

Gold for December delivery on the Comex division of the New York eased 0.32% to $1,337.35 a troy ounce.

Spot gold had edged up 0.1 percent to $1,338.82 an ounce.

US presidential debate Donald Trump between Republican and Democrat Hillary Clinton will take place at 0100 GMT on Tuesday by the investors looking for signs that could win the race to lead the world’s biggest economy.

In the next week, Federal Reserve Chairman Janet Yellen will speak amid the current uncertainty about the timing of the next rise in US rates .. In addition, a couple of speeches the president of the European Central Bank, Mario Draghi , will be focused on looking for fresh clues on whether the ECB will step up monetary stimulus in the coming months to push of inflation and prop up the economy.

Furthermore, the statements of Bank of Japan Governor Haruhiko Kuroda were observed in the wake of last week’s decision by the central bank to change its policy framework.

Gold prices moved lower by Rs 80 to Rs 31,520 per 10 grams in the national capital.

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Gold Prices Rally to 2-Week High As Stocks Rally; Fed Holds Rates

Gold Prices Rally to 2-Week High As Stocks Rally; Fed Holds Rates

Gold futures prices extended overnight gains on Thursday, touching a fresh 2-week peak as the U.S. dollar sold off after the Federal Reserve held off on raising interest rates and rise in the opting for riskier assets like equities.

Gold for December delivery on the Comex Exchange jumped to an intraday peak of $1,342.05 a troy ounce.

Spot gold was down 0.3 percent at $1,332.80 an ounce.

The Fed left the interest rates with no change in the conclusion of its policy meeting on Wednesday, but intimated that a hike could come in December, if the labor market continued to improve.

At the same time, the US central bank also reduced the number of rate increases that expects the next year and in 2018, based on the median projection of the estimates with its post-meeting statement.

The Fed has scheduled political meetings in early November and mid-December. Economists believe that the politicians could be prevented a rate hike in November, partly because the meeting falls just days away before the US presidential election.

Ongoing strength of equities could also hurt the prospects for gold, analysts added.

Asian stock markets rose on Thursday, following the example of Wall Street, slugging the dollar and the rise of most commodity prices.

Holdings of SPDR Gold Trust, rose 0.60 percent to 944.39 tonnes on Wednesday.

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Gold Prices Holds Steady in Familiar Territory as Fed, BOJ Meetings

Gold Prices Holds Steady in Familiar Territory as Fed, BOJ Meetings

Gold futures prices remained stable in the territory known on Tuesday, as investors sitting on large tight as before the Federal Reserve and the Bank of Japan to issue decisions eagerly awaited policy.

Gold for December delivery on the Comex Exchange dipped 65 cents, or 0.05%, to trade at $1,317.75 a troy ounce amid expectations of no rate change from the Fed.

Globally, gold climbed 0.24 per cent to $1,316 an ounce in Singapore on Tuesday.

The overwhelming consensus is that the Fed will keep rates unchanged at the conclusion of its policy meeting on Wednesday, some market participants expect to fall a clear indication that it is ready to raise rates before December.

The markets are now pricing in only a 12% chance of a rate hike this week, according to Fed Rate Monitor Tool Investing.com. By December probabilities have been of the order of 59%.

Marketmen said a firming trend overseas where gold is soared for a second day amidst speculation that the Federal Reserve politicians return to stay his hand in an increase in the interest rate, raising the demand for precious metals mainly boosted the sentiment here.

The marketplace is also awaiting the outcome of a policy meeting of the Bank of Japan on Wednesday, through speculation abounding that the Japanese central bank will make momentous changes to its program of easing.

The speculation points to a possible rate cut deeper into negative territory, adjustments to its asset purchase program or new rules on the duration of the securities to be bought in the bonds market.

The Bank of Japan has already applied negative real interest rates and is printing 80 trillion yen ($ 750 million) a year to stimulate inflation after decades of deflation and stagnant growth, however, inflation expectations appear to be weaken.

At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 57, or 0.18 per cent, to Rs 30,960 per 10 gram as speculators created fresh positions, taking positive cues from global markets.

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Gold Futures Prices Up On Weaker Dollar, But Caution Ahead Of Fed Meeting

Gold Futures Prices Up On Weaker Dollar, But Caution Ahead Of Fed Meeting

US gold futures advanced on Monday after overnight gains during the previous session, while the US dollar softened, but caution before monetary policy decision of the US Federal Reserve maintained a lid on yellow metals prices.

Gold for December delivery on the Comex Exchange tacked on $8.10, or 0.62%, to trade at $1,318.30 a troy ounce.

Spot gold was up 0.4 percent at $1,315.60 an ounce, not far from a low of $1,306.26 hit on Friday.

The Fed is not expected to make a decision on interest rates in completing its policy meeting two days at 2:00 PM ET (18: 00GMT) on Wednesday. Fed Chairman Janet Yellen is to perform what will be a conference tuning close press 30 minutes after the publication of the Fed statement, because investors looking for any change in tone of the economy or future increases rates.

The central bank to also release its latest projections for growth and rates of economic interest.

The markets are now pricing in only a 15% probability of a rate hike this week, according to Fed Rate Monitor Tool Investing.com. By December odds had been of the order of 54%.

Holdings of SPDR Gold Trust, the biggest exchange-traded fund backed by gold in the world, rose 1.11 percent to 942.61 tonnes on Friday.

The hedge funds and money managers reduced their net long positions in COMEX gold contracts in the week to September 13, the US data Commodity Futures Trading Commission showed.

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Gold Futures Prices Sinks to 2-Week Lower After Host of U.S. Data

Gold Futures Prices Sinks to 2-Week Lower After Host of U.S. Data

Prices of US gold futures sank to two weeks, a new low in Thursday trade as investors digested the liberation of a host of economic data from the United States.

Gold for December delivery on the Comex Exchange touched a daily low of $1,313.15 a troy ounce, a level not seen since September 2.

Meanwhile, Spot gold was trading lower 0.08 per cent at $1,321.60 an ounce in Singapore.

Previously published data showed that retail sales in the US fell for the first time in five months, fueling concerns about economic prospects.

DOC said retail sales dropped by 0.3% from the previous month, compared to an estimate of a decline of 0.1%. by underlying retail sales, excluding car sales fell unexpectedly by a seasonally adjusted 0.1% in August, compared with forecasts of an increase of 0.2%.

Another report published simultaneously showed that wholesale prices remained stable in August, mainly due to a sharp drop in the cost of food and gasoline.

In futures trading at the Multi Commodity Exchange, gold for delivery in far-month was trading higher by Rs 54, or 0.17 per cent, to Rs 31,220 per 10 grams, as speculators raised their bets even as metal weakened overseas.

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Gold Treads Water Amid U.S. Rate Hike Talk; Falling Stocks Support

Gold Treads Water Amid U.S. Rate Hike Talk; Falling Stocks Support

Prices of US gold futures fell lower on Friday as a stock market crash helped win the support of safe haven against the vision of a Federal Reserve official signaling the possibility for a near term U.S. rate hike.

On the Comex Exchange, gold futures for December delivery were down 0.12% at $1,332.90.

Spot gold held steady at $1,328.06 an ounce.

Prices of gold fallen under pressure after Fed chairman said Boston Eric Rosengren on Friday that the US economy has proved to be more resilient to exogenous risks and that “gradual hardening is probably appropriate.”

The feedback sparked new speculation about a potential rise in the coming future types.

Gold is responsive to the movement of US rates. A gradual process to higher rates is seen as less of a threat for prices of gold to a rapid series of increases.

Asian stock markets slid on Monday, as investors rattled by rising government bond yields and talk that the Fed could be serious about lifting interest rates US as soon as next week.

The hedge funds and money managers stepped their net long position in COMEX gold contracts to a maximum of nine weeks in the week to September 6, and also posed a bullish bias in silver, US data Commodity Futures Trading Commission showed on Friday.

SPDR Gold Trust, the biggest exchange-traded fund backed by gold in the world, said its holdings declined 1.12 percent to 939.94 tonnes on Friday.

At the Multi Commodity Exchange, gold for delivery in far-month Dec fell by Rs 71 or 0.23 per cent to Rs 31,280 per 10 grams in futures trade today as participants cut down their bets amid a weak global trend.

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Gold Prices Struggles for Direction After U.S. Data, ECB Stimulus In Focus

Gold Prices Struggles for Direction After U.S. Data, ECB Stimulus In Focus

Prices of gold futures trade struggled on Thursday, after having fallen 0.3 percent in the previous session as traders digested the latest United States data and comments from European Central Bank president, Mario Draghi, due to the late in the day.

Gold for December delivery on the Comex Exchange inched up $1.05, or 0.09%, to trade at $1,350.35.

Spot gold was little changed at $1,346.10 an ounce.

It is widely expected that the economics of the eurozone gonna need more stimulus by the European Central Bank (ECB), but unable to come to the bank’s policy meeting on Thursday.

Several officers of the US Fed have made hawkish comments in the last couple of days, working hard to rate hikes.

Numbers of persons who filed for unemployment assistance in the US in the past week fell to a seven-week, remaining associated with a healthy job market territory, official data showed on Thursday.

The Department of Labor said that the number of individuals who filed initial UI benefits declined by 4000 to 259,000 last week. Analysts were expecting unemployment claims to increase in 2000 to 265,000 of the total 263,000 the previous week.

The data have done little to alter market expectations for the next rise in US rates .. According to the Monitor tool Investing.com entry level, investors are pricing a 18% increase in rates 20-21 September meeting of the Federal Reserve by December probability is around 52%.

In Delhi Gold slipped from a 30-month high level, plunging by Rs 250 to Rs 31,300 per 10 grams at the bullion market.

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