Gold Prices Climbs to Over 2-Week High as Dollar Sinks

Gold Prices Climbs to Over 2-Week High as Dollar Sinks

Gold futures prices rose about 2-week high on Tuesday, as the U.S. dollar continued to head south in wake of the Fed dovish guidance on the future pace of rate hikes.

Comex gold futures jumped to a session peak of $1,237.95 a troy ounce, the highest since March 2.

Spot gold was down 0.4 percent at $1,228.61 per ounce. In the previous session, it touched its strongest since March 6 at $1,235.50.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, fell 0.6 percent at 99.59 in the New York trade this morning, the weakest level since Feb. 3.

The US dollar has fallen since the Federal Reserve raised interest rates on Wednesday, but it has kept its expectations for two more this year, instead of three forecasts from the market.

Market players waited for comments from a number of Fed policymakers to get more clues about the timing of the next US interest rate hike.

On Tuesday, New York Fed Chairman William Dudley, Fed Chairman of the Federal Reserve in Kansas City, Esther George, and Federal Reserve Chairman Cleveland Loretta Mestre, are making public appearances. Federal Reserve Chairman Janet Yellen speaks on Thursday.

Analysts said “Gold prices fell on Tuesday, failing to break the major resistance but hovering near a two-week high in the previous session on expectations for the Fed’s less hawkish policy.”

GOld 99.9 purity gold edged lower by Rs 95 to Rs 28585 per 10 gm, while the price of 99.5 purity gold declined by Rs 95 to Rs 28435 per 10 gm

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Gold Prices Trades Higher on Weak Dollar Index

Gold Prices Trades Higher on Weak Dollar Index

Traded gold prices higher on Monday morning on the back of the weak dollar index, which is on track for the fourth session of losses, after the failure of financial leaders of the G20 to make an open and free global trade issue while more dovish comments the Fed expected post continued Wednesday high rate related to support yellow and minerals.

Gold for April delivery on the Comex division of the New York gained $2.55 or 0.21%, to trade at $1,232.85 a troy ounce.

In the futures market gold was trading at Rs 28,550 per 10 gm on MCX.

In what was a quiet day for those first-class economic data, investors continued to focus on the comments of the Federal Reserve on Wednesday, as the US central bank maintained its forecast to raise interest rates twice this year, compared with expectations of market participants of three more rate raises.

At the same time the dollar’s decline also added a layer of support for gold denominated in dollars, and the dollar on the way for a fourth day of losses, after the decline of G20 financial leaders pledged to maintain free and open global trade policy statement at weekends.

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Gold Prices Moves Below in Asia A Fed Views on Rates Weigh, Low Demand

Gold Prices Moves Below in Asia A Fed Views on Rates Weigh

Gold futures prices declined in Asia on Friday with largely on its global weakness on political risk and mixed views about the pace of Federal Reserve rate hikes this year.

Gold for April delivery on the Comex Exchange inched down 0.13% to $1,225.45 a troy ounce.

Globally, Spot gold fell by 0.01 per cent to USD 1,225.70 an ounce.

Gold prices rose sharply on Thursday as the dollar fell, as investors studied the Fed’s more cautious than expected statement on the pace of interest rate hikes this year.

The Federal Reserve was stuck in its statement on Wednesday, noting that interest rate increases “will be gradual” in 2017, maintaining its view of raising the three interest rates, with the expectation of raising the remaining interest rates later this year.

Federal Reserve Chairman Janet Yellen said at a press conference on Wednesday that the US central bank would continue to provide enough monetary policy to support the US economy but warned of a long period of low prices to avoid a situation that forces food to “raise prices quickly.”

At the same time, mixed data from the economic data had a muted effect on the yellow metal as it continued to trade near its session highs.

In Delhi Gold of 99.9 and 99.5 per cent purity fell by Rs 150 each to Rs 28,950 and Rs 28,800 per ten grams respectively.

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Gold Prices Slides Below $1,200 as Markets Await US Rate Hike

Gold Prices Slides Below $1,200 as Markets Await US Rate Hike

Gold futures prices inched lower on Wednesday, falling below the $1,200-level as growing bets for an interest rate hike by the US Fed.

Comex gold futures shed $2.65, or around 0.2%, to $1,199.55 a troy ounce.

Spot gold fell by 0.42 per cent to USD 1,198.60 an ounce.

It is expected widely to raise the Fed funds target a group fed by a quarter point at the conclusion of its policy meeting on Wednesday, which would put it in a range between 0.75% -1%.

The Fed will also release the latest forecast for economic growth and interest rates, known as the “dot plot.”

Federal Reserve Chairman Janet Yellen is scheduled to hold what would be the prospective news conference after 30 minutes of the announcement of the release of the Federal Reserve, where investors are looking for any change in the tone of the hawks on the economy or raise interest rates in the future.

Federal Reserve officials previously expected three to raise interest rates in 2017, but that may move up to four, on signs that the recent uptick in inflation and continued strength in the labor market.

Ahead of the Fed decision, the reports showed that inflation United States deploy the smallest increase since last summer, while retail sales posted the smallest increase in six months in February.

In Delhi gold of 99.9 per cent and 99.5 per cent purity declined by Rs 250 each to Rs 28,650 and Rs 28,500 per 10 grams, respectively.

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Gold, Silver Prices Trade Flat as Investors Await Fed Outcome

Gold, Silver Prices Trade Flat as Investors Await Fed Outcome

Gold and silver prices trades flat with negative bias during morning hours on Tuesday, but stayed near the lowest level in six weeks ahead of an expected interest rate hike by the Fed Reserve.

At the comex gold futures tacked on $1.25, or around 0.1%, to $1,204.30 a troy ounce, within sight of last Friday’s low of $1,194.50.

Meanwhile, spot gold was little changed at $1,204.80 per ounce.

At the MCX Gold was trading 0.05 per cent, or Rs 13, down at Rs 28,238 per 10 gm.

Federal Reserve monetary policy begins two-day meeting on Tuesday, where it is expected widely to raise funds for an acre target range of a quarter-point to a range between 0.75% -1%.

The Fed will also release the latest forecast for economic growth and interest rates, known as the “dot plot.”

We will be watched a news conference after the meeting, Fed Chairman Janet Yellen closely for clues on the pace of rising interest rates in the future. Federal Reserve officials previously expected three to raise interest rates in 2017, but that may move up to four, on signs that a slight increase in the rate of inflation and the continued strength in the labor market.

In the meantime, investors are focusing on the Dutch elections, to be held Wednesday, which is being seen by a lead to the spread of populism in Europe, especially before elections in France next month.

SPDR Gold Trust stood at 832.03 tonnes, up 6.81 tonnes, from the previous business day.

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Gold Futures Worst Slides Toward $1,200 as Fed March Rate Hike Seen Near-Certain

Gold Futures Worst Slides Toward $1,200 as Fed March Rate Hike Seen Near-Certain

Gold futures price continues to losses in the 8TH straight session on Thursday, under way tugged back down towards $ 1,200 an ounce at a worse drop since October amid growing expectations among traders that the Fed will raise interest rates at the March policy meeting next week.

Comex gold futures touched a session low of $1,202.50 a troy ounce, a level not seen since February 1. It was last at $1,206.40 , down $3.00, or about 0.3%.

Gold for immediate delivery lost about 0.4% to $1,203.98 an ounce, the lowest level since Feb. 1, and traded at $1,205.41 in London, according to Bloomberg generic pricing. It’s lower for a 4th day, while yields on 10-year Treasuries up for a ninth session.

Futures traders priced in all parts of a 90% chance of rising in the meeting of the Fed’s March 14 to 15, according to the tool monitoring of the Federal Reserve’s rate Investing.com.

Investors are now waiting for the nonfarm payrolls report on Friday for more clues on the potential for rising this year’s pace.

Prospects of lifting the second interest rate on Sep currently amounts to approximately 70%, whereas the price of the third raise in December in at nearly 60%, matching market forecasts with current expectations for the Federal Reserve Board for a term of three to raise interest rates in 2017.

Only raise the prices once in 2015 and also in 2016, and the rate may accelerate this year. The so-called conspiracy points from the makers of the Federal Reserve’s policy shows predicted for three increases this year, and last Friday, Yellen dropped hints it may end the bank to raise them more than planned in 2017.

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Gold Futures Prices Holds Steady on Safe-Haven Demand Amid Heightened Geopolitical Concerns

Gold Futures Prices Holds Steady on Safe-Haven Demand Amid Heightened Geopolitical Concerns

The futures prices of gold higher in the morning hours on Monday, kicking off the week with gains supported by the safe-haven interest amid growing geopolitical tensions on North Korea and the weak dollar.

Comex gold futures tacked on $6.00, or about 0.5%, to $1,232.35 a troy ounce.

Spot gold edged down 0.1 per cent to $1,233.18 per ounce. The metal hit $1,222.51, the lowest since Feb. 15, in the previous session on signals of a hike in US interest rates this month.

The geopolitical tensions in focus after North Korea fired four ballistic missiles early on Monday, three of which landed in the exclusive economic zone in Japan, an area that extends about 230 miles into the sea from its coast.

The move came after the reported Japanese media on Saturday, US Secretary of State of the State Rex Tillerson is scheduled to Japan, South Korea and China to visit this month to discuss North Korea in his first visit to the region since taking office.

The USD declined in Asian trading on Monday, as investors closed gains after rising last week amid growing expectations of the existence of interest rate hikes in the United States. The dollar index rose 0.1 per cent to 101.46.

US Federal Reserve Chairman Janet Yellen capped off a concerted push it seems from the central bank when it reinforced the opinion that the Federal Reserve will raise interest rates at its next meeting on March 14 to 15, and is likely to be able to move faster after that it used to be in years.

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