Gold slumped 5-year low after Swiss voters ‘No’ vote and investors eyeing China manufacturing data

Gold slumped 5-year low after Swiss voters ‘No’ vote and investors eyeing China manufacturing data

Gold dropped over 2% a 5 year low on Monday after Swiss voters have rejected a plan for their central banks and oil accumulate bullion demand extended to five years under braking declines. And investors looking manufacturing data in China.

China is to release official data on manufacturing activity in November that was 50.8 in October and HSBC manufacturing index expected at 50.0.

On the Comex New York Mercantile Exchange, gold February futures delivery traded at $1,153.50 a troy ounce, down 1.06%.

Gold fell as much as 2.1 percent to $1,142.88 an ounce, the lowest level since Nov. 7, when it dropped to a four-year low of $1,132.16. The metal traded at $1,152.09 at 12:06 p.m. in Singapore.

Last week, gold prices fell to a two-week low on Friday as a strong decline in world oil prices.

Swiss voters called the scheme as an “invitation to speculation.”

Under the Swiss referendum was to buy more than 1,460 tons of gold market, which experts say could have provided a cushion price.

MCX gold in the domestic market, with a huge drop of about 2 per cent is trading below Rs 25,350. While silver is seeing fragility of nearly 4 per cent and it is trading around Rs 33,200.

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

Free trial commodity trading tips

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

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: