Gold futures drop on dollar climbs, U.S. midyear rate hike

Gold futures drop on dollar climbs, U.S. midyear rate hike

Fed meeting in March showed that several officials believe the economic picture are likely to warrant a rate hike in June. Image Source: http://bit.ly/1CkAW7z

Gold futures prices were lower on Thursday after Federal Reserve minutes showed policy makers were split on the timing to raise interest rates. A midst of recent data pointing to a slowdown in economic growth.

On the Comex, gold futures for delivery in June were at $1,195.7, after falling to session lows of $1,192.6. Meanwhile, gold prices fell by 0.3 per cent to $1,198.97 an ounce in Singapore today.

Fed Guv Jerome Powell said he would be willing to start tightening policy despite the current low inflation rates, adding that the Fed could act in June if economic data within the next two months showed that the recovery remained on track.

Meanwhile, Fed meeting in March showed that several officials believe the economic picture are likely to warrant a rate hike in June.

While many others advocated an increase later this year or in 2016, according to the minutes. US jobless claims probably rose last week, economists said before a report from the Labor Department.

The greenback’s strength against a trade-weighted basket of six major currencies, was up 0.41% to 98.65.

At the Multi Commodity Exchange, gold for delivery in June dropped by Rs 150, or 0.56 per cent, to Rs 26,610 per 10 grams, as market participants reduced their exposures amid a weak global trend.

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 free trial

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, 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: