Gold Futures Drop Amid Weak Global Cues; U.S. Rate Hike Talk

Gold Futures Drop Amid Weak Global Cues; U.S. Rate Hike Talk

Prices of gold futures fell on Monday because expectations of a rise in US rates in the near future continues to weigh on the bullion and as traders eyed speeches by several Fed officials scheduled later in the day.

On the Comex, gold futures for December delivery lost 0.72% to $1,137.30.

Meanwhile, gold traded lower at $1,145.96 an ounce in Singapore.

Fed Chair Janet Yellen said on Thursday that the US central bank remains on track to raise interest rates this year.

Reviews reassured investors that the monetary policy has not changed significantly after the Fed’s decision to hold in check hiking rates earlier this month.

Gold had come under pressure lower in recent months because of the uncertainty about when the Fed may raise interest rates on record-low.

Commodity market analysts attributed the fall in prices to weak trend overseas, also, the metal for delivery in October shed Rs 28, or 0.10 per cent, to Rs 26,706 per 10 grams at Multi Commodity Exchange.

Besides, profit-booking by speculators weighed on gold prices.

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

Free Mcx Tips

Advertisements

100Mcxtips an experienced commodity advisory to predict investors buying and trading trends at various market environments. For more information on commodity bullions Gold, Silver and all Indian Commodities. Kindly visit us fill an query form at 100mcxtips.com.

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

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: