Gold futures fall as the dollar gained

Gold prices slip

Gold tumbled today as the dollar rallied by reducing the appeal of bullion as an alternative asset. Bullion closed 1.5 percent for 2014, compared with an average movements annually 12 percent in the past 14 years. The prices hit a four-year low last month as equities were recovered and the investors speculated that the Federal Reserve is preparing to raise interest rates.

Gold futures for February delivery fell 1.4 percent to settle at $1,184.10 an ounce on the Comex in New York.

Assets in the SPDR Gold Trust dropped 0.2 percent yesterday to 710.81 metric tons, the lowest since September 2008, data compiled by Bloomberg show.

At the Multi Commodity Exchange ( MCX), the February contract fell Rs 28, or 0.10 per cent, to Rs 26,675 per ten grams.

The Indian rupee currency on Thursday weakened versus the dollar after the fiscal deficit in India reached 99% of its budgeted estimates raised concerns among traders that the Government will is unlikely to achieve its target of 4.1% of gross domestic product (GDP).

Bullion Analysts attributed the fall in gold futures to weak global trends.

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 or Call: +91-761-4012307

Free Mcx 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, Stocks Market

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: