Gold futures prices fall after upbeat U.S. trade data

Gold futures prices fall after upbeat U.S. trade data

On the Comex, gold futures delivery in August slashed $5.60, or 0.47%, to trade at $1,188.80 a troy ounce. Image Source:

Prices of gold futures fell to the lowest levels of the session on the Wednesday, after a series of optimistic data strengthened the case for rising U.S. interest rates this year to boost the dollar.

On the Comex, gold futures delivery in  August slashed $5.60, or 0.47%, to trade at $1,188.80 a troy ounce.

The DOC said the US trade gap fell by 19.2% in April to $ 40.88 billion from a deficit of $ 50.57 billion in March. Analysts hoped that the US trade gap narrows to $ 44.0 billion in April.

United States exports rose 1% to $ 189.91 billion in April, while imports fell 3.3% to $ 230.78 billion.

The report came after payroll processing firm ADP said non-farm private employment increased by 201,000 in May, right above expectations for a 200,000 increase. The economy added 165,000 jobs in April.

Gold is in disgrace. Investors reduced holdings in exchange-traded products backed by bullion to the lowest rate since 2009, as emerging markets demand hurt the United States and China and the outlook of rising US interest rates boosted the dollar.

Assets in the SPDR Gold Trust, the biggest bullion-backed ETP, fell 0.6 percent to 709.9 tonnes on Tuesday, the lowest level since Jan. 14, according to Bloomberg data. The ETP hit rock bottom in this year 704.8 tonnes on January 7th, 48 percent below its 2012 peak.

At domestic front, Gold futures prices on MCX were trading flat. In MCX Gold August futures was trading at Rs 27,145 up Rs 3, or 0.01 percent.

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

free 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: