Gold Prices Rises 1-Week High After Yellen Hints at Only Gradual Tightening

Gold Prices Rises 1-Week High After Yellen Hints at Only Gradual Tightening

Gold futures rose on Thursday nearing a one-week high on a weaker dollar and lower US yields after Fed’s Chair Janet Yellen said the Fed would only gradually tighten monetary policy, curbing speculation that interest rates would rise more than once this year.

Comex gold futures were at $1,222.49 a troy ounce. Spot gold rose 0.3 per cent to $1,222.71 per ounce.

Prices rose for a third consecutive session on Wednesday after cautiously wary of inflation, and noted that the Federal Reserve will not need to raise interest rates “much more than that” to reach the current low estimates of the neutral funds rate.

She also said that the US economy is healthy enough so that the Fed begins to reduce the public budget of $ 4.5 trillion sometime this year.

Market participants considered this speech mainly pessimistic.

While the weakness of the dollar can be beneficial for short-term gold, the continued strength of US stocks is still dragging.

Technical rebound may lead to push prices above the level of $ 1230, moving around the 200-day average, it is likely to be crowded in the range of 1,18- US $ 1,180 in the short term.

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: