Gold Rise 1%, as Fed Chair Yellen Signals Future Rate Hikes

Gold Rise 1%, as Fed Chair Yellen Signals Future Rate Hikes

Prices of gold gained about 1% or $ 15 an ounce, bouncing off one-month lows from the previous session, as Janet Yellen, emphasizes that the Federal Reserve should proceed step by step with the time of its next rise types, ahead of a weak US economic data dented expectations of an immediate rise in the United States. interest rates.

On the Comex, gold for June delivery traded between $1,217.00 and $1,242.00, before closing at $1,237, up $15 or 1.23% on the session.

Spot gold was little changed at $1,221.40 an ounce. The metal had fallen to a one-month low of $1,208.15 on Monday, before closing the day up 0.4 percent.

By quoting heightened risks to the financial and global economic conditions, as well as the concerns of many years with the oil price, Yellen reiterated that only incremental increases benchmark Federal Funds Rate Fed should be justified in the coming years. The Federal Open Market Committee has kept the Fed funds rate in a target range of between 0.25 and 0.50% for each of the last two meetings since the abandonment of a policy of zero interest rate in seven years December.

Monday’s data demonstrated that the US consumer spending barely rose in February and inflation retreated, suggesting that the Federal Reserve may remain cautious about raising interest rates this year even as the labor market tightens quickly.

Accordance the faint data, economists cut their growth estimates of GDP for the first quarter, while the dollar fell 0.2 percent against a basket of currencies.

The disappointing outcome dampened expectations of an imminent rise in interest rates in the US, some Fed officials last week that it could be as early as next month if the economy maintains its momentum.

Amid a weakening global trend, Gold for delivery in April fell Rs 72, or 0.25%, to Rs 28,386 per 10 grams at the Multi Commodity Exchange.

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

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: