Gold Futures Holds Near 4-Week High, Fed Meeting In Focus

Gold Futures Holds Near 4-Week High, Fed Meeting In Focus

Prices of gold futures were little changed on Tuesday holding about 4 weeks of the previous session up, as investors looked forward to the policy meeting of the Federal Reserve and Britain June 23 right to vote on whether to leaving the European Union.

Gold futures August delivery on the Comex Exchange dipped 75 cents, or 0.06%, to trade at $1,286.15 a troy ounce.

Spot gold had dipped 0.1 percent to $1,282.41 an ounce. Bullion touched a session-peak of $1,287.0 on Monday, its highest since May 16.

Although it is not expected that the US central bank to take action on interest rates at the conclusion of its policy meeting at 18: 00GMT, or 14:00 ET Wednesday, which could provide advice on its pace of tightening over the coming months.

Fed Chairman Janet Yellen is to perform what will become a conference tuning close press 30 minutes following publication of the Fed statement, since investors look for any change in the pitch of the economy or future increases rates. The central bank will also announce its latest projections for growth and rates of economic interest.

Investors will from all but dismissed a rate hike in June after US jobs data earlier this month showed that the economy added only 38,000 jobs last month, the smallest increase since Sept, 2010.

Market participants are assessing in only 2% probability of a rate hike this week and 23% for July, according to CME Group. September were likely to about 37%.

Tuesday’s data showed that retail sales rose 0.5% last month, beating forecasts for a gain of 0.3%, while core sales increased 0.4%.

Holdings in SPDR Gold Trust, rose 0.27 percent to 896.30 tonnes on Monday, the highest since October 2013.

At Multi Commodity Exchange, gold for delivery in far-month October was trading lower by Rs 56 or 0.18 per cent at Rs 30,568 per 10 grams as participants reduced their positions, largely in line with a weak trend overseas.

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 Provider in India


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: