Gold Prices on Track to Snap 5-Week Lose As Dollar Weakness

Gold Prices on Track to Snap 5-Week Lose As Dollar Weakness

Gold futures rose Friday, taking advantage of the dollar’s slide to its lowest level in 10 months after a disappointing economic report showed that US economic growth is not as strong as previously expected.

Gold futures for August delivery on the Comex Exchange rose by $10.52, or 0.86%, to $1,227.83 a troy ounce.

Spot gold rose 0.1 per cent to $1,218.18 per ounce. It was up 0.4 per cent for the week so far, which would be its biggest weekly gain since early June.

MCX Gold was down 0.22 per cent, or Rs 61, at Rs 27,776 per 10 gram.

US economic turmoil was repeated on Friday, following the release of inflation and retail sales data that surpassed economists’ forecasts, reducing investor expectations about future rate hikes.

The inflation rate in the last 12 months slowed to 1.6% in June from 1.9% in the previous month, and is down from a five-year high of only 2.7% five months ago.

The economist expected an inflation reading of 1.7%.

SPDR Gold Trust GLD traded fund, said its latest holdings stood at 828.84 tonnes, down 3.55 tonnes, from previous business day.

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 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 )

Google+ photo

You are commenting using your Google+ 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 )


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: