Gold Futures Edge 3-Week Higher on softer dollar

Gold Futures Edge 3-Week Higher on softer dollar

Gold futures edged 3-week higher on Friday as weakness in the U.S. dollar continue after the minutes from the Fed’s latest policy meeting showed the US central bank was in no hurry to raise interest rates.

On the Comex, gold futures for December delivery were up 0.08% at $1,145.40.

Spot gold was up 1.2 per cent at $1,152.06 an ounce, after touching a three-week peak of $1,154 earlier in the session.

Prices were backed by Fed minutes released  on Thursday, which suggests that the central bank was deeply guarded, even before the soft employment data last week showed a sharp slowdown in US hiring.

The greenback has come under pressure recently due to lower expectations of a rate hike by the Fed this year following the unexpectedly weak US jobs report last Friday of September.

The US dollar index, which measures the strength of the greenback against a trade-weighted basket of six major currencies, remained stable at 95.36, near three-week lows of 95.17 on Thursday.

Gold has been under pressure from expectations that the central bank will raise interest rates this year, which could raise the opportunity cost of not keeping bullion performance.

But the weak data and concerns about the global economic US economy have led many to roll back expectations, which has assisted win the gold more than 3 percent so far this month.

A potential delay in the rate hike also impacted upon the dollar, which has been supportive for the gold market to make cheaper for holders of other currencies metal.

Gold also has been able to reach a height of 3-weeks. MCX gold around 0.75 per cent increase in the domestic market is trading above Rs 26,600.

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: