Gold Futures Prices Sharp Gains After Sluggish US Jobs Data

Gold Futures Prices Sharp Gains After Sluggish US Jobs Data

US gold futures retained earnings of its biggest daily gain in almost nine months on Monday due to weak employment data in the United States eased fears that the Fed will raise rates this year.

On the Comex, US gold for December delivery traded in a broad range between $1,129.60 and $1,141.60 an ounce. Spot gold was little changed at $1,137.45 an ounce.

On Friday, US gold futures rose more than 2% above $ 1,140 an ounce, enjoying the strong motion of a day in more than a month. In the last 30 trading days, the precious metal has gained about 1.45% in value.

Data on Friday showed US employers criticized the curb hiring in the past two months, with non-farm payrolls increasing by 142,000 last month. Economists surveyed by Reuters had forecast employment growth of 203,000 in September.

The data tabled new doubts about whether the economy was strong enough for the Fed to raise interest rates later this year.

The hedge funds and money managers increased bullish bets in gold futures and options on COMEX for a period of four weeks, but cut a net long position in silver in the week to September 29, the US Commodity Futures Trading Commission released data on Friday.

At the Multi Commodity Exchange, gold for delivery in October was sharply up by Rs 397 or 1.54% at Rs 26,170 per 10 gram, today as speculators took fresh positions on positive cues from global markets.

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 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: