Gold Silver Futures Prices gain in Asia after Fed Minutes Set Dovish Tone

Gold Silver Futures Prices gain in Asia after Fed Minutes Set Dovish Tone

Gold and silver futures rose in Asia on Thursday as investors saw the US Fed meeting minutes in May overnight as cautious about the timing of the next rate hike.

Gold for June delivery on the Comex Exchange rose 0.50% to $1,259.38 a troy ounce.

Spot gold was nearly flat at $1,258.61 per ounce. It rose about 0.6 per cent on Wednesday.

Gold futures were flat as investors analyzed the Federal Reserve’s minutes of possible changes in expectations on the course of US interest rate hikes, after the latest batch of economic data showed a slowdown in US economic activity in the first quarter.

And increased economic growth in the United States, as measured by gross domestic product, with an annual rate of only 0.7% during the first three months of 2017 and was the slowest period of economic growth in the first quarter since 2014.

In a statement issued after its decision to keep the benchmark interest rate unchanged in May, the Federal Reserve reiterated that monetary policy remains accommodative to support both the rise in labor market conditions and the persistent return to inflation of 2%.

Asian stocks hit their highest level in two years as the Asia-Pacific Asia Index rose 0.7 percent to its highest level since June 2015.

Meanwhile, the dollar index, which tracks the US currency against a basket of major currencies, rose 0.3 percent decline.

Silver rose 0.1 percent at $ 17.20 an ounce, while platinum is almost not changed at $ 944.20 an ounce.

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.

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: