Gold Prices Holds at 3-Week Highs On BOJ Stimulus

Gold Prices Holds at 3-Week Highs On BOJ Stimulus

Prices of gold futures rose highest to three-week on Friday, on track for a gain of more than one percent in July as incentive measures by the Bank of Japan disappointed market expectations and a decision of the Federal Reserve to leave its monetary policy unchanged continued support.

On the Comex Exchange, gold futures for December delivery were little changed at $1,341.75.

Spot gold was up 0.4 per cent at $1,341.16 an ounce. Bullion has risen 1.2 per cent in July, its second straight monthly gain, and is heading for its first weekly gain in three.

The Bank of Japan expanded monetary stimulus on Friday through a modest increase in purchases of exchange-traded funds, yielding to under government pressure and the financial markets for bolder action to spur growth and expedite inflation to its target of 2 percent.

In coordinating their activities with large package of fiscal spending by the government, the Bank of Japan probably aims to maximize the effect of their actions on the world’s third largest economy, which is struggling to escape decades of deflation.

The JPY rose about 2.14 percent to 102.99 against the dollar, and dollar index, which measures the greenback versus a currency baskets, fell 0.4 percent to 96.316.

At Multi Commodity Exchange, gold for delivery in August was trading Rs 129, or 0.42 per cent higher, at Rs 31,160 per 10 grams in futures trade as speculators widened their bets taking positive cues from the global market.

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

Top Commodity Tips Provider

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, MCX, 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: