Gold Prices Flirts With 2-Year High On Firmer Dollar

Gold Prices Slips to Near 3-Month Lows Ahead of US Rate Hike Outlook

Prices of US gold futures rallied sharply in trading on Tuesday, repositioning at the highest level since March 2014, when the dollar firmed, as well as expectations of a rise in the interest rates in the short term US lost momentum after disappointing figures for US growth last week.

Gold for December delivery on the Comex rose to an intraday peak of $1,370.15 a troy ounce, the most since July 11, when prices surged to a more than two-year high of $1,377.50.

Spot gold inched down 0.3 per cent to $1,348.46 an ounce, after closing up 0.2 per cent at $1,352.85 on Monday.

The US dollar index, which measures the dollar versus a basket of six currencies, rose 0.1 percent to 95.824, after being dropped to a low of 95.384 last week when it posted its biggest loss in three months.

Holdings of SPDR Gold exchange-traded fund, rose 0.62 percent to 964.03 tonnes on Monday.

At the Multi Commodity Exchange, gold for delivery in August shed Rs 74, or 0.23 per cent, to Rs 31,460 per 10 grams as participants cut bets amid a weak global trend.

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 Tips

Enter a caption

Advertisements

100McxTips is an experienced Mcx 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 100mcxtips 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:

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: