Gold prices push higher amid equities decline boosting demand for precious metal

Gold prices push higher amid equities decline boosting demand for precious metal

The prices of gold pushed higher on Monday, as stocks fell around the world, boosting safe-haven demand for the precious metal.

December gold futures delivery up 0.7 percent to $ 1223.70 an ounce on the Comex. The metal is down 5 percent this month and 7.4 percent in the third quarter, the first defeat this year.

The prices of gold have been boosted while pro-democracy demonstrators in Hong Kong battled with riot police, closing business territory center. Hong Kong shares fell nearly 2% overnight, while Asian equities were extensively lower.

Gold has traditionally been viewed as a safe haven investment in times of political instability.

Gold rises were kept in check by the ongoing strength of the dollar.

In the domestic market, gold has support from a weaker rupee. MCX Gold October futures price with 0.7 per cent rise is trading at Rs 26 980. The silver December futures at Rs 39 369 with a gain of 0.51 percent.

In the domestic market due to fall in rupee has increased purchases of gold and silver. Whereas at international market pressures on bullion. The dollar index continues to firmly. Such is the pressure in the internationally market.

Investors were seeking ahead of the economic data from the USA, with non-farm payrolls on Friday reported sharp focus after the report issued in August fell short of expectations.

The United States published data on personal income and expenditures later Monday, followed by a report on pending home sales.

For latest commodity market tips, MCX tips, news & updates  with 100McxTips Commodity Advisory, follow us on Twitter and Like on Facebook.  And to contact the reporter on this story email at support@100mcxtips.com or Call: +91-761-4012307

Sureshot commodity tips free trial

Advertisements

100McxTips is an experienced Mcx 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 100mcxtips free trial tips here.

Posted in Commodity, MCX, Stocks Market

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: