Gold futures holds gains above $1,200 amid weak U.S. jobs data

Gold futures holds gains above $1,200 amid weak U.S. jobs data

On the Comex, gold futures delivery in June dropped $2.20, or 0.18%, to trade at $1,206.00 a troy ounce. Image Source:

Prices of gold futures held above $ 1,200 an ounce on Thursday after weak U.S.  private employment data have suggested that a broader jobs report could disappoint. In addition, investors centered their attention on the American Jobs report on Friday for more appreciation of the future direction of monetary policy.

Signs that the US economy decelerated significantly during the 1st quarter boded well for safe haven assets like gold, which was trading not far from a three-week high hit last week.

US private employers added the lowest number of employees in more than a year, in March, the lack of market expectations. Additional data also point a reduced growth of the economy, with the activity of the factory punching a nearly two-year low in March.

On the Comex, gold futures delivery in June dropped $2.20, or 0.18%, to trade at $1,206.00 a troy ounce. Spot gold prices gained 0.2 percent at $1,205.80 an ounce, after climbing 1.8 percent on Wednesday.

Gold registered its biggest average daily gain within two months on Wednesday as weaker than expected economic data fed worries over the health of the US economy and wetted expectations of rising interest rates.

Payroll processing firm ADP said non-farm private employment increased by 189,000 last month, below expectations for a 225,000 increase and the lowest since January 2014.

A separate report showed factory activity in March fell to its lowest level in 14 months.

It is expected that trading activities to be thin on Friday, with many markets closed due to the Easter holiday.

Indian stock and commodity market was shut on 2nd April on account of public holiday. Indian markets started the new financial year (FY16) on a positive note, posting their first weekly gains in four, as shares surged in last-hour trading on Wednesday.

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

MCX Commodity 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 )

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
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: