Gold Prices Continuous Weaker in Asia, Yuan Eyed as Buying Cue

Gold Prices Continuous Weaker in Asia, Yuan Eyed as Buying Cue

Gold futures prices fell in Asia on Friday as investors watched the yuan closely after rising to a seven-month high on Thursday on signs that the stronger currency could buy some bullion.

Gold futures for June delivery on the Comex Exchange fell 0.13%, to $1,265.35 a troy ounce.

Globally, gold fell 0.29 per cent to $1,261.70 an ounce and silver by 0.35 per cent to $17.21 an ounce in Singapore.

In Delhi Gold price drifted lower by Rs 100 to Rs 29,250 per 10 grams.

It is expected that the non-farm payrolls report the US economy creating 185 000 jobs last month, it shows on Friday and will be watching closely as he was the final jobs report before the FOMC meeting of the Fed in June.

According to Investing.com, 90% of traders expect the Federal Reserve to raise its benchmark interest rate in June from 0.75-1% to 1-1.25%.

The price of gold fell on Thursday after a surge in the dollar after a rise in the number of private sector jobs created by the US economy last month, to be optimistic tone ahead of the publication of the monthly jobs report, which closely monitors on Friday.

Employers added 253,000 jobs in May, according to salary salary transactions, well above Wall Street’s expectations of a 185,000 rise.

In a separate report, manufacturing activity in the United States rose to 53.5 in May, the Supply Management Institute said on Thursday. Economists had expected a rise to 52.8.

A reading above 50 indicates that the industrial economy generally expands; less than 50 indicates that it is generally contracted.

At the same time, spending fell in the construction sector increased by 1.4% for the month, the biggest decline in the year, below expectations, down 0.2%.

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.

Free Mcx Tips

Advertisements

100Mcxtips an experienced commodity advisory to predict investors buying and trading trends at various market environments. For more information on commodity bullions Gold, Silver and all Indian Commodities. Kindly visit us fill an query form at 100mcxtips.com.

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: