Gold Futures Prices Move Lower as U.S. Dollar Strengthens

Gold Futures Prices Move Lower as U.S. Dollar Strengthens

Gold futures fell on Thursday as better-than-expected US economic reports boosted the dollar.

At the Multi Commodity Exchange, gold for delivery in October fell by Rs 40, or 0.13 per cent, to Rs 29,846 per 10 grams.

Comex gold futures were down by $5.51 or about 0.38% at $1,322.53 a troy ounce.

Meanwhile, gold was trading at USD 1,318.96 an ounce, its lowest since September 1 in Singapore.

The dollar rose after the US Commerce Department said consumer price inflation rose more than expected in August.

Strong additional data were seen as an opportunity to raise interest rates by the Federal Reserve this year.

A separate report showed that initial jobless claims fell unexpectedly to 284,000 last week, boosting optimism about the strength of the economy.

Bullion Analysts said weak sentiment abroad as investors turned their attention to data on US consumer inflation. later in the day to get clues about the schedule of new rate hikes in the price of gold futures trading here.

The dollar also remained buoyant amid hopes that the administration will implement the tax reform shortly after US President Donald Trump came this week to Democrats and Republicans.

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Gold Future Prices Remain Slightly Lower in Risk-On Trade

Gold Future Prices Remain Slightly Lower in Risk-On Trade

Gold futures prices remains slightly lower on Tuesday, as risk sentiment returned after weekend events seemed less catastrophic than initially expected.

Comex gold futures were down by $2.90 or about 0.22% at $1,332.98 a troy ounce.

MCX Gold was down 0.31 per cent, or Rs 94, at Rs 29,839 per 10 gram.

Spot gold had edged 0.1 per cent lower to $1,325.56 an ounce. In the previous session, it lost 1.4 per cent in its biggest one-day per cent decline since early July.

The world’s largest gold-traded fund, SPDR Gold Trust, fell 0.3 percent to 834,50 tonnes by Sept. 8.

The sentiment continued to improve as Hurricane IRMA less damage than expected in Florida, and North Korea did not fire missiles over the weekend.

The market participants have prepared additional provocations from North Korea on September 9, as the country celebrated its founding day. However, Pyongyang celebrated its anniversary without further missiles or nuclear tests.

Asian stocks rallied to a 10-year high on Tuesday as investors breathed a sigh of relief as North Korea’s concerns declined slightly and the worst-case scenario of Hurricane Irma was avoided.

The dollar made big gains on Tuesday after a sharp rebound against the yen and the euro.

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Gold Futures Prices Hovers Near 1-Year Peak with North Korea Attention

Gold Futures Prices Hovers Near 1-Year Peak with North Korea Attention

Gold futures prices continued to trade near one-year highs on Tuesday, , as North Korea’s most powerful nuclear test to date underpinned demand for safe-haven assets.

Comex gold futures were up $6.76 cents or around 0.51% at $1,337.08 a troy ounce.

Spot gold rose 0.22 per cent higher at USD 1,336.70 an ounce in Singapore today.

At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 103, or 0.34 per cent, at Rs 30,208 per 10 grams.

It boosted precious metals after North Korea conducted its sixth largest nuclear test on record on Sunday, prompting US Secretary of Defense James Mattis, to say that any threat to the United States or its allies will face “significant military response.”

On Monday, South Korea said its northern neighbor saw the move of what appeared to be an intercontinental missile towards the west coast.

At the same time, it was said that the United Nations consider imposing tougher against North Korea economic sanctions.

US trading partners accused North Korea of helping its nuclear ambitions, saying that “all options to face the threat of North Korea are on the table”.

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Gold Still Lower on Stronger Dollar After Strong U.S. Data; Geopolitical Risks Support

Gold Still Lower on Stronger Dollar After Strong U.S. Data

Gold futures were still lower on Wednesday, with gains in the dollar pressured amid US economic data that boosted demand for the dollar, but yellow metal prices were supported as demand for safe haven was buoyed by expectations of continued geopolitical risk.

Comex gold futures were down around $7.07 or about 0.53% at $1,311.85 a troy ounce.

Spot gold was down 0.1 per cent at $1,307.60 per ounce. It hit an over nine-month peak on Tuesday at $1,325.94.

MCX Gold was down 0.26 per cent, or Rs 76, at Rs 29586 around, while MCX Silver was up 0.18 per cent, or Rs 73, at Rs 39745 per 1 kg.

The US dollar found support after data showed the US private sector added more jobs than expected in July.

In addition, a preliminary report showed that US economic growth for the second quarter was adjusted even more than expected.

The dollar index, which measures the strength of the dollar versus a basket of six major currencies, was 0.53% for operation at 92.80, up to maximum of two and a half years 91.55.

Gold analysts, gold is likely to trade sideways on Wednesday as the latest tensions between the US and North Korea relaxed after Kim said the missile was in protest against annual military exercises between the US and Japan. and South Korea. In addition, investors will be cautious ahead of crucial data from the United States tonight.

The latest holdings of SPDR Gold Trust, the largest publicly traded gold fund backed by gold, rose 0.3 percent on Tuesday.

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Gold Prices Peaks on North Korea’s Missile Launch Over Japan; Bullish Bets Pile Up

Gold Prices Peaks on North Korea's Missile Launch Over Japan

Gold futures prices nearly 11-month highs in early trade on Tuesday, as the dollar pared some of its losses on safe haven buying amid rising tensions between US and North Korea.

Gold futures for December delivery on the Comex Exchange rose $3.98, or 0.30%, to $1,319.31 a troy ounce.

MCX Gold was up 0.37 per cent, or Rs 108, at Rs 29,275 per 10 gram. MCX Silver was up 0.41 per cent, or Rs 158, at Rs 39170 per 1 kg at around the same time.

Globally, gold rose 0.90 per cent to $1,322.41 an ounce, the highest intra-day since November 9 last year and silver by 0.66 per cent to $17.54 an ounce in Singapore.

Gold prices rose more than 1% to the highest level in 11 months at $ 1331.18, after North Korea launched a missile that flew over Japan on Monday, which led to the flight of the plane between the safety and the safety of investors, thereby raising the demand for safe haven assets such as gold.

However, trading was short-lived as traders seemed to be making gains on the metal’s rally to a multi-month high as the dollar rebounded amidst more than expected consumer confidence data.

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Gold Futures Prices Remain Supported on Weaker US Dollar

Gold Futures Prices Remain Supported on Weaker US Dollar

Gold futures prices remained close to Monday’s two-month peak, as disappointing comments by Federal Reserve chairwoman Janet Yellen at the Jackson summit continued to weigh on the dollar.

Comex gold futures were up around $5.80 or about 0.45% at $1,303.69 a troy ounce.

MCX Gold was up 0.13 per cent, or Rs 39, at Rs 29,206 per 10 gram, and MCX Silver was up 0.29 per cent, or Rs 113, at Rs 39,125 per 1 kg.

Globally, gold rose 0.41 per cent to USD 1,296.10 an ounce and silver by 0.44 per cent to USD 17.13 in Singapore.

The US dollar index fell to its lowest level in 15 months after he delivered a speech from Federal Reserve Chairman softened in the Jackson Hole Economic Symposium reference to monetary policy, disappointing some investors who were hoping that they will adopt the tone of the Hawks.

The dollar has been under strong selling pressure this year amid continuing uncertainty over US President Donald H. Trump’s economic agenda and doubts that the Federal Reserve will raise its benchmark interest rate this year.

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Gold Futures Prices Holds Onto Gains as Dollar Weakens

Gold Futures Prices Holds Onto Gains as Dollar Weakens

US gold futures prices remained higher on Wednesday, as the worsening sense of the US dollar after US President Donald Trump’s comments, investors remained cautious before the Jackson Hole summit this week.

Comex gold futures were uo around $4.50, or about 0.35%, to $1,299.50 a troy ounce.

MCX Gold was down 0.09 per cent, or Rs 25, at Rs 29,080 per 10 gram.

Globally, gold prices fell 0.53 per cent to USD 1,284.40 an ounce in New York in yesterday’s trade.

The sense of the US dollar was weak after President Trump said at a rally in Arizona on Tuesday that he would be willing to close the government in order to secure funding for his proposed wall along the US-Mexico border.

Trump also warned that it could end the trade treaty to NAFTA with Canada and Mexico after the first round talks aimed at renewing the trade agreement which ended with some signs of progress.

The dollar index, which measures the strength of the dollar versus a basket of six major currencies, fell 0.25% to hit 93.19.

SPDR Gold Trust GLD traded fund, said its latest holdings stood at 799.29 tonnes, remained unchanged from the previous business day.

Traders said the local bullion market sentiment was weak amid falling demand from fasting and weak global signals with high US dollar against a basket of major currencies ahead of an annual meeting of a bank this week, the central banks.

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