Gold failed to holds decline, as stronger equities hurt safe-haven appeal

Gold failed to holds decline, as stronger equities hurt safe-haven appeal

Gold prices in early trade on Monday failed to holds decline and make any recovery from three straight days of losses as stronger global economic data and higher equities curbed the metal’s safe-haven appeal.

Asian shares jumped, taking heart of upbeat earnings and economic data from the United States that eased fears of global growth and acute hazard appetite. The results of stress tests on European banks at the weekend received quietly in the market.

Last week, US gold futures modest rose on the Friday but still registered a weekly loss as ongoing expectations for a rate hike earlier than expected in the US and a stronger dollar overall.

Comex gold futures for delivery in December quoted at $ 1,230.20 a troy ounce, down 0.06%, after it settled last week at $ 1231.80 a troy ounce.  Spot gold remained stable at $ 1,230.86 an ounce, but is not far away from a minimum of one week of $ 1226.17 hit last week.

Decline in gold and silver has increased in the domestic market. Gold is down to Rs 27,200, while the silver is seen around Rs 38,000.  As the effect of international market, domestic prices has been declining.” said 100McxTips Commodity Experts.

A recent batch of strong as hopes that US economic data pointed out that the economic recovery maintains momentum and underscored speculation that the US Federal Reserve may raise rates earlier than expected.

Rate hikes likely to damping at gold prices, as it increases the relative cost of holding on to the metal.

The metal’s losses come after global equities posted their biggest weekly percentage gain since July 2013 last week, while the US dollar also strengthened.

A stronger US dollar typically weighs on gold as it absorbs the metal’s appeal as an alternative asset and causes dollar-priced commodities more expensive for holders of other currencies.

Bullion Traders were also watching closely the positions of investors in gold funds. SPDR Gold Trust said its holdings fell 0.6 percent to 745.39 tonnes on the Friday.

The hedge funds and money managers raised their bullish bets on futures and option on gold for the second consecutive week, as the price of gold was recovered in the week until 21st October, the Commodity Futures Trading Commission said on Friday.


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 or Call: +91-761-4012307

Free trial commodity trading tips


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: