Gold Edged Lower in Holiday-Thinned Trade

Gold Edged Lower in Holiday-Thinned Trade

Gold lowered on Monday, as it is expected that trading volumes remain thin ahead of the New Year holidays. Prices renouncing some of the gains from last week, but moves muted in the low liquidity in the holiday-shortened week.

US gold futures for February delivery on the Comex shed $5.40, or 0.5%, to trade at $1,070.50 a troy ounce.

Spot gold was down 0.3 per cent at $1,071.94 an ounce.

Looking ahead to the last week of the year, it is expected that trading volumes remain light as many merchants have already been closed books due to the holiday period, reduced liquidity into the market and increased volatility.

Investors kept an eye on the upcoming US data to assess whether the world’s largest economy is strong enough for supporting further rate hikes in 2016. The US is to release key reports on consumer confidence, pending home sales and jobless claims later this week.

The metal rose by almost 1 percent during Christmas week, but still on course to fall for the sixth consecutive quarter, the longest streak of quarterly losses since the mid-1970s is 9 percent so far this year .

Prices reached its lowest level in early 2010 earlier this month in anticipation of the first interest rate hike in the United States in nearly a decade. Even though gold ground lost after the announcement as traders covered short positions holding, it remains under pressure.

The gold futures contract traded on the Multi Commodity Exchange (MCX) witnessed a choppy movement and trades above a key support level of Rs 25,000.

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 Provider


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 )

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
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: