Gold futures trades above $1,190 after U.S. ADP jobs report

Gold futures trades above $1,190 after U.S. ADP jobs report

On the Comex, gold futures for June delivery was up $ 8.90, or 0.75%, to trade at $ 1192.10 a troy ounce. Image Source: http://bit.ly/1FhoFUH

Gold futures prices switched to the highest levels of trading on Wednesday after data showed US non-farm private employment increased at the slowest pace in ten months. Market agents looked for more information on the strength of the economy and the future trajectory of the monetary policy.

On the Comex, gold futures for June delivery was up $ 8.90, or 0.75%, to trade at $ 1192.10 a troy ounce.

Investors were also focusing their attention on US employment report was to release later in the day, February for more indications on the future path of the monetary policy.

Payroll processing firm ADP reported non-farm private employed increased by 189,000 last month, below the expectations of a 225,000 increase. The economy created 214,000 jobs in February, whose figure was revised up from an earlier report of 212,000.

Meanwhile, official data published earlier have shown that the index of manufacturing, purchasing managers from China advanced to 50.1 this month, just above the level of 50 points divides growth from shrinkage activity. Analysts had forecast a reading of 49.7, slightly lower than a February reading of 49.9.

Gold prices rose at the Multi Commodity Exchange, delivery in June month gained by Rs 56, or 0.21% to Rs 26,325 per ten grams. Meanwhile, gold rose 0.5% to USD 1,189.15 an ounce in Singapore.

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 support@100mcxtips.com or Call: +91-761-4012307

MCX Gold Trading Tips

Advertisements

100Mcxtips an experienced commodity advisory to predict investors buying and trading trends at various market environments. For more information on commodity bullions Gold, Silver and all Indian Commodities. Kindly visit us fill an query form at 100mcxtips.com.

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: