Gold Futures Prices Slides to Fresh 4-Month Low at Start of Busy Week

Gold Futures Prices Slides to Fresh 4-Month Low at Start of Busy Week

Gold futures prices rose early on Monday, stimulating near the lowest level in four months, as investors look forward to comments from top Federal Reserve officials and a host of US economic data for further indications on the possibility of raising the interest rate of the central bank during the end of the year.

Comex gold futures were at $1,205.63 a troy ounce, down $4.20, or around 0.4%. It touched it its lowest since March 15 at $1,204.00 earlier.

Spot gold was nearly flat at $1,213.16 per ounce.

Job growth in the United States rose more than expected in June, employers increased working hours for workers, and labor force signs that could keep the Federal Reserve on track to raise its third interest rate this year despite slow wage gains.

US Federal Reserve Board said on Friday that the US economy is still creating jobs and growing at a steady pace, with the confidence of investors and consumers in good health, and the presence of moderate signs of risk in financial markets.

The US Department of Labor added 222,000 jobs last month, more than 179,000 new jobs economists expect. The April and May figures were also revised to show that there were 47,000 jobs more than previously reported.

But while the number of employment strong title, the inflation pressure is still tame. Hourly average wage rose by only 0.2% in June, down from an estimated 0.3% increase.

Holdings in the SPDR Gold Trust fund, declined 0.63 percent to 835.35 tonnes on Friday from 840.67 tonnes on Thursday.

For Commodity Market TradingMCX Live Trade CallsGold-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.

Commodity Tips Provider in India

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: