Gold Futures Prices Slip Near 2-Month Lows ahead of US Jobs Data

Gold Futures Prices Slip Near 2-Month Lows ahead of US Jobs Data

Gold futures prices fell near the lowest level in two months on Friday, with the increasing demand for the US dollar amid growing optimism about the future of the economy, and after the release of mixed US employment report, which included an encouraging increase in wages.

Comex gold futures were down $2.22, or about 0.17%, at $1,270.98 a troy ounce.

MCX Gold futures were trading 0.11 per cent down at Rs 29,356 per 10 gram while MCX Silver futures were down 0.02 per cent at Rs 39,163 per 1 kg.

Globally, gold rose by 0.03 per cent to USD 1,268.20 an ounce and silver by 0.06 per cent to USD 16.59 an ounce in London.

And investor confidence in the US economy rose after the Labor Department said Thursday that initial jobless claims fell more than expected to 260,000 last week.

Additional reports showed that the US trade deficit contracted in August, with exports rising to a two-and-a-half year high, while factory orders rose more than expected by analysts.

It seems that the markets focus only on the growth of wages, which is monitored by the Federal Reserve closely to get evidence of the recession, the decline in the labor market and upward pressure on inflation.

The dollar has gained widespread support through the hopes of making a future tax reform after the US House of Representatives on Thursday approved a spending bill for the 2018, which was considered an important step for the payment of the tax reform plan at the end.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, rose 0.14% to hit 93.91, compared to the highest level in 10 weeks of 94.09 earlier in the session.

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.

Top Commodity Tips Provider

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: