Gold Prices Under Pressure as Safe Haven Demand Eases

Gold Prices Under Pressure as Safe Haven Demand Eases

Gold futures prices edged lower in early trade on Wednesday, as demand for safe-haven assets eased amid a recovery in US dollar and global equities.

Comex gold futures shed $9.60, or around 0.8%, to $1,284.50 a troy ounce. Meanwhile, spot gold was down $6.60 at $1,282.90.

At the MCX Gold was trading 0.39 per cent, or Rs 115, down at Rs 29,399 per 10 gram.

The US dollar index, which tracks the greenback versus a basket of six currencies, rose 0.2 percent to 99.62, down from Tuesday’s low of 99.36, its lowest level since March 28.

Meanwhile, Treasury yields were 10 years at about 2.21%, having fallen to 2.165% Tuesday, the lowest level since Nov. 10.

Gold on the steady trade on the demand for safe skies with continuing doubts in fuel. Amid the uncertainty over geopolitical tension over North Korea, the British prime minister has now decided to enter early elections in June 2017. Early elections in Britain to strengthen Britain’s hand, may have an impact in the French elections as well.

Amid the large volatility of European currencies the euro and the pound against the US dollar will gain strength against the US dollar.

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 or Call: +91-761-4012307.

MCX Tips Free


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: