Gold Prices Gains About $10 as Global Equities Plunge, Dollar Retreat

Gold Prices Gains About $10 as Global Equities Plunge, Dollar Retreat

Gold futures prices edge higher about $10 on Tuesday as global equities markets falter on mounting expectations that the Fed will likely go ahead with an interest rate increase this month.

Asian stock markets fell on Tuesday, with the Shanghai Composite fell 1.2%, while the appetite for riskier assets undermined after a couple of reports on China’s manufacturing sector added to signs that the second largest economy world be slowing.

In Europe, Germany’s DAX fell more than 2.5%, while the Dow and the S & P 500 marked drop by at least 2% at the open, as fears of a global economic slowdown led by China, traders and shook feeling scared.

Today on the Comex, Gold for December delivery jumped $10.40, or 0.92%, to trade at $1,142.90 a troy ounce. Spot gold was up 0.5 per cent at $1,139.60 an ounce, after an uneventful session on Monday.

Fed Vice Chairman Stanley Fischer said on Saturday that inflation in the US is likely that rebound such as pressure from the molten dollar, allowing the US central bank to raise the interest rates gradually.

Fischer’s comment sent Wall Street lower overnight and US futures extended losses on Tuesday, with Asian stocks also fell, led by China. The dollar weakened similarly as risk aversion favored way the euro and the yen.

In the meantime, investors looked in advance to Friday US August employment report, which could assist in providing clarity about the probability of a rise in the interest rates in the short term.

Bullions ended August 1 3.5 percent higher than concerns about China’s economic slowdown triggered safe-haven bids, although the metal has emerged from a seven-week high above.

Mounting evidence that the Fed would raise interest rates at its next policy meeting on Sept. 16 to 17 could limit the upside potential of gold.

Indian stock markets dropped by 2.2% to 25,696.44 for a second day, the lowest since 11 August 2014.

Analysts said the rise in gold prices at futures trade was mostly in line with a firming trend overseas, at the Multi Commodity Exchange, gold for delivery in October was up by Rs 175, or 0.66%, to Rs 26,857 per 10 gram.

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

Commodity Tips Free


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: