Gold Prices Under Pressure Ahead of Hawkish BOJ, Fed Policy Meetings

Gold Prices Under Pressure Ahead of Hawkish BOJ, Fed Policy Meetings

Gold futures prices fell sharply on Monday extending losses from late last week, as investors braced for further declines ahead of investors looked to a raft of central bank meetings and rate decisions this week.

Gold for April delivery on the Comex division of the New York slumped $15.50, or 1.23%, to trade at $1,243.90 a troy ounce.

Globally, gold fell 0.6% to $1,256.88 an ounce in Singapore.

Market participants were preparing for the policy decision of the Bank of Japan due on Tuesday, followed by rate announcement by the Fed on Wednesday and the Bank of England meeting on Thursday.

Since jumps to 13-month highs in early March, gold has closed lower in six of the last seven sessions. Bullion is still over 16% from the beginning of the year, the pace of one of its strongest opening quarter in 30 years.

On Friday, prices of gold at a 14-month high of $ 1,287.80 soared after President of the European Central Bank, Mario Draghi deployed measures of fresh stimulus, including increased asset purchases and the deeper notch to deposit rates, but they noted that there would be cuts additional fees.

At Multi Commodity Exchange, gold for delivery in April contract was trading lower by Rs 73 or 0.25% at Rs 29,427 per 10 grams.

Bullion analysts said cut of positions at prevailing levels by speculators led to the fall in precious metals prices at futures trade but a firming trend overseas, capped the losses.

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

Mcx Trading 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, 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
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: