Gold Prices Holds Above 4-Week Low, As Yellen Speech Draws Closer

Gold Prices Holds Above 4-Week Low, As Yellen Speech Draws Closer

Prices of gold dropped to an fresh 4-week low in trading on Thursday, as the dollar lost little strength ahead of economic reports from the United States increases the chances of an increase in the interest rate in the next months.

Gold for December delivery on the Comex Exchange fell to an intraday low of $1,321.05 a troy ounce.

Spot gold was up nearly 0.2 per cent at $1,325.30 an ounce. The metal touched a four-week low of $1,323.20 on Wednesday on a firm dollar.

Ms Yellen is slated to address a meeting of central bankers in Jackson Hole, Wyoming, on Friday, and most recent comments the Fed have increased expectations of investors that she could take a less cautious tone on central rates.

Numbers of individuals who filed for jobless benefits dropped by 1,000 last week to a five-week low of 261,000, the Labor Department said. Analysts were expecting unemployment claims to increase in 3000 to 265,000 last week.

A separate report showed that US requests for long-lasting manufactured goods rebounded more than expected in July, recovering from the fall of the month earlier.

The optimistic data reinforced expectations of faster economic growth and raised the likelihood of an interest rate increase by the Federal Reserve this year.

In Delhi bullion market, Standard gold (99.5 purity) dropped by Rs 295 to end at Rs 31,150 per 10 grams from Wednesday’s closing level of Rs 31,445.

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

Commodity 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 )

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
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: