Gold prices slips 0.2% as Asian stocks climb and U.S. weekly jobless claims report

Gold prices slips  0.2% as Asian stocks climb and U.S. weekly jobless claims report

Gold slipped on Thursday owing to the stronger equities battered safe-haven appeal of the precious metal and investors a large extent played down poor economic numbers U.S. growth for the most recent jobless claims data.

The U.S. economy will contracted at a far more pronounced rate in the first trimester than previously thought, turning in one of its worse performances yet not of recession, but growth as seems to have picked strongly.

Spot gold was dropped 0.2 percent to $ 1316.60 an ounce at 0640 GMT, after surging 0.1 percent in the previous session. The prewcious metal continued to hold near two-month high, supported from violence in Iraq.

On the other hand, U.S. gold for delivery in August dropped 0.71%, or $ 9.40, to trade at $ 1,313.20 a troy ounce during early European morning hours. Futures held within a range of $ 1312.20 and $ 1320.60 an ounce.

At the Multi Commodity Exchange, gold for delivery in August eased by Rs 146, or 0.53%, to Rs 27,605 per 10 grams.

Gold held endorsed after first-quarter growth was reviewed down to U.S. strongly, reinforcing expectations that the Fed hold rates kept longer.

The precious metal was previous backed by dollar weakness, which was pining near one-month lows value against a basket of major currencies early Thursday. Other traders said the precious metal will still see volatile trading.

The dollar decreased through the board after the Commerce Department said the U.S. GDP shrank by an annual rate of 2.9% during the first three months of the year as compared with the consensus estimate of a 1.7%.

The first quarter U.S. GDP initially reported to have risen by 0.1%, but it was later revised to display a contraction of 1.0%.

The distinction between the second and third estimate was the biggest since records started in 1976, the Commerce Department said.


For latest Gold market 100% accurate tips, mcx gold 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, MCX

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: