Gold Futures Prices Ease, Surrender Gains On Dollar Strength

Gold Futures Prices Ease, Surrender Gains On Dollar Strength

Gold futures prices dropped on Monday, giving up early gains with a higher greenback amid expectations that the US Fed will raise rates at the policy meeting next week.

Spot gold slipped 0.3 percent to $1,173.56 an ounce. U.S. gold futures fell 0.2 percent to $1,175.80 per ounce.

Gold traded higher on the Multi Commodity Exchange (MCX) yellow metal was trading 0.15 per cent higher at Rs 28,471 per 10 gm in early trade.

Market pundits believe worries about the resignation of Italian Prime Minister Matteo Renzi after a negative vote in the constitutional referendum due to safe-haven buying on Sunday.

The euro sank to its lowest level in 20 months in Asia on Monday after Renzi said he would resign in the aftermath of severe defeat in the constitutional referendum that could destabilize the fragile banking system in the country’s stability.

Investors and politicians in Europe fear a victory for the opposition Italy camp “no” could cause of political instability and renewed unrest banks Italy, pushing the euro zone into a new crisis.

The euro sank to 20-month lows in Asia on Monday after the Italian vote.

Dollar index which tracks the US currency versus a basket of major currencies, rose 0.7 percent to 101.46, and the best height in a single day since the November 14.

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 Commodity Tips

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: