Gold Futures Turned Higher But Remains Five-and-a-Half Year Low Ahead of Key Data

Gold Futures Turned Higher But Remains Five-and-a-Half Year Low Ahead of Key Data

Gold futures turned higher in trading submitted on Tuesday, but remained close to five and a half years low in a continuous medium pressured by expectations that the Federal Reserve was on track to raise interest rates this year.

On the Comex division of the New York, Gold futures delivery in December inched up $3.90, or 0.36%, to trade at $1,093.30 a troy ounce. Spot gold slipped 0.2 per cent to $1,083.25 an ounce.

Investors stared up to the launch of key data for further indications about the time that a rate increase in the United States and the vigorous economy.

The USA. will release data on factory orders at 10:00 am ET Tuesday. Market participants are also focusing on payrolls report on Friday. The ADP employment report, considered a precursor of the non-farm data is due on Wednesday.

Data on Monday showing factory activity weakened in July and consumer spending grew at its slowest pace in four months in June has done little to alter expectations of a rate hike in September.

Gold lost nearly 7 percent in July, its highest monthly drop in two years, since the rate hike is coming boosted the dollar and encouraged investors to scale their exposure to bullion.

The Fed sounded more like optimistic about the economy after its policy meeting last week, having the door open for a boost in interest rates as soon as September.

Expectations of further debt ratios in the future is seen bearish for gold, as the precious metal strives to compete with the assets that support performance when rates are rising.

As speculators offloaded their positions, tracking a weak global trend Gold for futures delivery in August fell by Rs 161, or 0.65% to Rs 24,600 per ten gram at the Multi Commodity Exchange.

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 Free 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 )

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: