Gold reserve five day decline since the Wall Street get weaker

Gold reserve five day decline since the Wall Street get weaker

 

The prices of gold rose for the first time in six days on Tuesday that the stock markets retreated following a series of historic highs on Wall Street.

The prices of bullion and gold futures were maintained positive despite new orders for capital goods U.S. factories rose for a third consecutive month in April,  indicating the manufacture and economic strength, which should have been bullish for the stock markets.

But it seemed unlikely that the precious metal to make solid gains, with uncertainties in front of the policy meeting of the European Central Bank on Thursday and wariness after a major downturn in activity of investors in gold futures in the United States.

The spot price of bullion was a tap higher than Monday’s close, trading up 0.1 percent at $ 1,245.68 an ounce. Initially gold fell to a fresh four-month low of $ 1240.61, which threatens to extend the decline of the last five sessions, marking longest losing streak in almost seven months.

Comex Gold for delivery in August was quoted at $ 1,245.30 a troy ounce, up 0.06%. Overnight, by the Institute for Supply Management manufacturing data edited May twice on Monday. The index was first corrected to 56.0 after it was first reported as 53.2, before being corrected by a second time to 55.4.

ECB is hoped that the cut interest rates and reduce rates banks pay for deposit funds with the central bank below zero on Thursday. With weak demand for gold bullion in China, even after the end of the dragon boat festival on Monday, adding to the uncertainty.

The precious metal has come under heavy selling pressure recently as investors bet on robust economic growth in the U.S. in the second quarter.

Meanwhile, investors remained reluctant to buy in the market amid a weak technical picture. The prices of gold have declined during the past six consecutive sessions amid signs of bearish charts.

 

By Investing.com

For latest Gold market tips, news & updates  with 100 Mcx Tips Commodity Advisory, follow us on Twitter (https://twitter.com/100mcxtips) and on Facebook at (https://www.facebook.com/100mcxtips)

Advertisements

100Mcxtips an experienced commodity advisory to predict investors buying and trading trends at various market environments. For more information on commodity bullions Gold, Silver and all Indian Commodities. Kindly visit us fill an query form at 100mcxtips.com.

Posted in Commodity

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Free Crude Oil Tips
Free Trial Crude Trading Tips
Contact & Visit Info
+91-761-4012307
M-Sat : 10am - 7pm
NG Trading Tips
Free Trial Commodity Tips
Disclaimer: 100McxTIps would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Bulloin Futures prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore 100McxTips doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
%d bloggers like this: