Investors sell gold holdings in longest run, ahead of Fed meeting

Investors sell gold holdings in longest run, ahead of Fed meeting

On the Comex, gold futures for delivery in April marginally up 90 cents, or 0.08%, to trade at $1,154.10 a troy ounce. Image Source:

Investors sold off stakes in gold-backed funds for a day 14, the longest run in over a year, after the Federal Reserve began a two-day meeting later in the day. Gold was little changed near a three-month low on Tuesday.

On the Comex, gold futures for delivery in April marginally up 90 cents, or 0.08%, to trade at $1,154.10 a troy ounce. Similerly, Gold for immediate delivery was little changed at $1,154.16 an ounce in London.

The bullion investors are waiting to see if the Fed decides that the US economy has gained enough momentum to justify the elimination of a promise to be “patient” in raising borrowing costs, which wet lure of gold as usually offer refunds only through the price increases.

The dollar has rallied with very little rest on the expectations of rising interest rates, and that the European Central Bank provided in contrast to the US.

Major Asian currencies ended higher against the dollar ahead of Fed is scheduled to begin its two-day policy meeting starting later on Tuesday.

Today local Indian currency opened at 62.78 per dollar and touched a high of 62.67;  closed at 62.72, up 0.16% from previous close of 62.81.

At the Multi Commodity Exchange, gold for delivery in April, lost by Rs 54 (or 0.21 per cent), to trade at Rs 25,729 per 10 grams, as bullion traders engaged in trimming positions amid weak global cues, before the Federal Reserve begins a two-day monetary policy meeting.

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

best commodity tips provider in india


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: