Gold Prices Moves Below in Asia A Fed Views on Rates Weigh, Low Demand

Gold Prices Moves Below in Asia A Fed Views on Rates Weigh

Gold futures prices declined in Asia on Friday with largely on its global weakness on political risk and mixed views about the pace of Federal Reserve rate hikes this year.

Gold for April delivery on the Comex Exchange inched down 0.13% to $1,225.45 a troy ounce.

Globally, Spot gold fell by 0.01 per cent to USD 1,225.70 an ounce.

Gold prices rose sharply on Thursday as the dollar fell, as investors studied the Fed’s more cautious than expected statement on the pace of interest rate hikes this year.

The Federal Reserve was stuck in its statement on Wednesday, noting that interest rate increases “will be gradual” in 2017, maintaining its view of raising the three interest rates, with the expectation of raising the remaining interest rates later this year.

Federal Reserve Chairman Janet Yellen said at a press conference on Wednesday that the US central bank would continue to provide enough monetary policy to support the US economy but warned of a long period of low prices to avoid a situation that forces food to “raise prices quickly.”

At the same time, mixed data from the economic data had a muted effect on the yellow metal as it continued to trade near its session highs.

In Delhi Gold of 99.9 and 99.5 per cent purity fell by Rs 150 each to Rs 28,950 and Rs 28,800 per ten grams respectively.

For Commodity Market Trading, MCX Live Trade Calls, Gold-Silver Market 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 Free

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: