Gold prices withdrew from 3-week high ahead of Fed meeting


The prices of gold withdrew from three-week high in the previous session on Tuesday, as investors remained cautious ahead of the monetary policy meeting of the Federal Reserve should start later in the day.

Monetary policy meeting of Fed beginning two days at end of day with a testimony expected on Wednesday. The markets are on the lookout for any indication that the central bank could begin raising interest rates.

Spot gold little changed at $ 1,270.90 an ounce at 0316 GMT. The metal touched a up to three weeks of $ 1284.85 longer duration on Monday prior to closing 0.4 percent on profit taking.

At U.S,  gold for delivery in August slipped to a session low of $ 1263.70 the, lowest troy ounce from June 12 before paring losses to last trade of $ 1266.20 during the hours of European morning trade, down 0.71%, or $ 9.10.

On 1 :15 PM IST , At the Multi Commodity Exchange, gold prices for delivery in far-month October fell Rs 61, or 0.23 per cent, to Rs 26,834 per 10 grams.

The market analysts said the drop in gold futures was primarily due to the end of the booking by profiteers and weak trend overseas before the U.S. Fed starts a two-day meeting today.

Expected to draw the support of the Iraqi situation – Gold – considered a hedge against political uncertainty and riskier assets like stocks.

President Barack Obama considered to the options for military action to support the embattled government of Iraq, while U.S. and Iranian officials held talks to stabilize the region, which has been marred by the Sunni rebel advance toward Baghdad.

Investor confidence, however, was bearish as holdings of SPDR Gold Trust, dropped 4.20 tonnes to 782.88 tonnes on Monday – about a minimum of five years.



For latest Gold market tips, news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter ( and on Facebook at (


MCX Commodity Tips is an experienced Commodity Research Advisory to predict investors buying and trading trends at various market environments. For free trial advisory on commodity Gold, Silver, Crude, Copper and all Indian Commodities kindly visit us and submit an query form at commodity free trial tips here.

Posted in Commodity

Leave a Reply

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

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

Google+ photo

You are commenting using your Google+ 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 )


Connecting to %s

Free Crude Oil Tips
Free Trial Crude Trading Tips
Contact & Visit Info
M-Sat : 10am - 7pm

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

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: