Gold Futures Prices Climbs to Highest Since June on Global Leads

Gold Futures Prices Climbs to Highest Since June on Global Leads

Gold futures prices was trading near a seven-week high on Monday as market players looked forward to a busy week of economic data, including the US jobs report.

Comex gold futures were at $1,266.80 a troy ounce, down $1.60, or about 0.1%.

At the MCX Gold prices drifted lower by 0.21 percent to Rs 28,520 per 10 grams.

As non-farm payroll data, this week’s calendar also reports US personal income and spending, which includes inflation data, personal consumption spending, the Fed’s preferred standard of inflation.

As it reflected on the agenda data on the manufacturing sector and the growth of the service sector, auto sales, factory orders, and the monthly trade figures.

Prices rose 1.1% last week, the third such gain in a row, as the Federal Reserve’s expectations of a rate hike again later this year, along with the growing political turmoil in the White House, sending the dollar to its lowest level in 13 months.

A weak dollar usually benefits from gold, because it enhances the appeal of the metal as an alternative asset and makes goods at cheaper prices for holders of other currencies.

Analysts said that in addition to a weakening trend abroad, profiting by speculators at higher levels, had a major influence.

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Gold Prices Rises to 6-Week High Despite Dollar Rebound After Fed Statement

Gold Prices Rises to 6-Week High Despite Dollar Rebound After Fed Statement

Gold futures rose on Thursday after hitting a six-week high as the dollar rebounded as investors continued to slump in precious metals amid speculation that the Federal Reserve may keep interest rates down for longer than originally expected.

Gold futures for August delivery on the Comex Exchange rose by $9.70, or 0.77%, to $1,258.98.82 a troy ounce.

Spot gold had climbed 0.2 per cent to $1,262.78 per ounce. It reached $1,264.90 an ounce earlier in the session, its highest since June 15.

Despite the strengthening of the US dollar, gold futures continued to advance, adding to gains from the previous session as investors expected the Federal Reserve to keep interest rates low for a long time following the central bank’s decision unchanged.

As it expected on a large scale, to stop the Federal Reserve on interest rates on Wednesday, while maintaining the benchmark rate in a target range of 1% -1.25% while expressed concerns about slowing inflation, pushing the dollar to its lowest level in fourteen months.

The fall in the dollar is a blessing for gold denominated in dollars, since it makes buying the metal less expensive for investors who pay in other currencies.

With the Fed now probably waiting at least until the end of the year and yields on US bonds. Falling, there are some tail-forming winds that should drive higher prices in the short term.

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Gold Future Prices Slip as Investors Wait for US Fed Policy Outcome

Gold Future Prices Slip as Investors Wait for US Fed Policy Outcome

Gold futures prices edged lower on Wednesday, as market participants awaited the Federal Reserve’s policy statement for clues on the outlook for the US central bank’s next monetary tightening.

Comex gold futures were at $1,247.11 a troy ounce, down $5.10, or about 0.4%. Spot gold fell 0.27 per cent to $1,245.16 per ounce

MCX Gold was down 0.39 per cent, or Rs 112, at Rs 28,366 per 10 gram.

It is expected that the Federal Reserve to take action on interest rate policy at the end of a two-day meeting at 2:00 pm EST (1800GMT), and remains in a range between 1.0% -1.25%.

The Central Bank statement will be issued after the meeting, as investors looking for any change in the language can be more clearly refers to the timing of the lifting of the next interest rate. The players in the market also will pay close attention to the details of when the Fed will begin to cut its balance sheet of $ 4.5 trillion.

The Fed’s comments on inflation will also be a focus.

As of Investing.com Fed’s high interest rate in the market before the end of the year, as predicted only 40% of the players in the market another move by the month of December, which raised expectations of weak inflation doubts about whether policy makers will be able to stick to their plans to tighten the track.

The focus will also be on the headlines coming from Washington, where the Senate is expected to continue work on the abolition of Obamakar. This will continue to investigate the relations of US President Donald Trump’s campaign with Russia’s attention.

Latest holdings at the SPDR Gold Trust, slipped 1.13 per cent to 800.45 tonnes on Tuesday from 809.62 tonnes on Monday.

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Gold Prices Slips from 1-Month High, Fed Meeting in Focus

Gold Prices Slips from 1-Month High, Fed Meeting in Focus

Gold futures fell from their highest level on Tuesday, bolstered by political uncertainty in the US as market players looked to the Fed’s monetary policy meeting for a fresh look at the timing of the next US interest rate hike, to pare its balance sheet.

Spot gold was up 0.2 per cent at $1,256.71 per ounce. In the previous session, it touched $1,258.79 an ounce, its highest since June 23.

Comex gold futures were at $1,252.99 a troy ounce down $1.25. It touched its highest since June 26 at $1,259.00 in the prior session.

The Fed starts its two-day policy meeting later in the day, with no action on interest rates expected.

Market players will pay close attention to details of when and how the US central bank will begin cutting its $ 4.5 trillion budget while looking for clues about the timing of the next rise in borrowing costs.

According to Reuters, the conviction of a high interest rate before the end of the year has faded, with only 35% of players in the market expecting another move by December as weak inflation expectations raised doubts about whether policy makers would be able to stick to the plan.

The US dollar weakened near a 13-month low against a basket of currencies on Tuesday with skeptical traders that this week’s meeting of the US Federal Reserve could do much to reverse the recent weakening of the dollar.

The dollar also worries that continuing political turmoil will be an obstacle to the stimulus program and tax reform US President Donald Trump.

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Gold on Track to Notch 2nd Straight Weekly Gain as Dollar Slump Continues

Gold on Track to Notch 2nd Straight Weekly Gain as Dollar Slump Continues

Gold futures rose on Friday and were on track for a 2nd consecutive weekly gain as the strong dollar sales amid renewed political uncertainty in Washington reported that special lawyer Robert Mueller will expand his research to include business deals of President Trump.

Gold futures for August delivery on the Comex Exchange rose by $8.46, or 0.68%, to $1,254.06 a troy ounce.

Spot gold edged down 0.04 per cent to $1,243.80 per ounce after touching a three-week high on $1,247.48 an ounce in the previous session.

According to several news agencies reported that the private business of US President Donald Trump is scheduled to be subject to scrutiny as the Special Adviser Robert Mueller will expand investigations into allegations that Russia has affected the US presidential election in 2016.

The lack of political uncertainty in Washington linked to the US dollar at the lowest level in more than a year compared to its competitors, thereby raising the price of gold to its highest level, where the precious metal seeks to achieve the biggest weekly gain to him within two months.

The US dollar headed for weekly losses on Friday, emptying at its lowest levels against the euro in nearly two years after the head of the European Central Bank, Mario Draghi, said that policymakers would discuss changing its purchase program of bonds in autumn.

The ECB left unchanged its ultra-easy monetary policy on Thursday and even discussed the possibility of recovering the stimulus, suggesting that may delay an inevitable decision to reduce bond purchases until the last possible moment.

The fall of the underlying dollar moves higher in other precious metals, as silver futures rose 0.59% to $ 16,442 a troy ounce.

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Gold Futures Flat as US Dollar Moves off Lows

Gold Futures Flat as US Dollar Moves off Lows

Gold futures have almost turned positive on the back of economic data on the top of the expectations of US Dollar analysts as almost no change has happened, thereby reducing investor hunger for metal.

Gold futures for August delivery on the Comex Exchange fell by $0.88, or 0.01%, to $1,241.86 a troy ounce.

Silver by 1.12 per cent to USD 16.26 an ounce in New York in yesterday’s trade.

MCX Silver was down 0.38 per cent at Rs 37,550, while MCX Gold was down 0.17 per cent at Rs 28,205 per 10 gram.

Gold gave its sub-par latest gains after the rise of ES about 2% in the previous sessions were bounced loss of, expected following the release of better than expected housing data indicating a possible improvement in US Home building.

Stent housing jumped 8.3 percent to a seasonally adjusted annual rate 1.22 million units, the highest level on February scenes, the Ministry of Commerce Said Wednesday.

Economists activity forecasts how high its rated come of 5.8%.

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Gold Prices off as Prospects for US Rate Hikes Weigh on Dollar

Gold Prices off as Prospects for US Rate Hikes Weigh on Dollar

Gold futures rose on Monday to the strongest level in nearly two weeks as the US dollar fell to its lowest level in several months as the prospect of a rate hike in the United States this year dwindled after more soft US economic data last week.

Comex gold futures were at $1,233.82 a troy ounce, up $6.30, or around 0.5%. It touched its highest since July 3 at $1,234.76 earlier.

Spot gold had risen 0.2 per cent to $1,230.43 per ounce.

Prices rose 1.5% last week as cautious comments from Federal Reserve Chairman Janet Yellin, along with soft inflation data, saw investors soften their outlook for tougher monetary policy in the US in the coming months.

Futures traders prices in less than 40% chance of a rate hike by the Fed at the end of the year, according to the monitoring tool Investing.com, down from about 50% in the previous week.

Investor risk sentiment picked up additional momentum after Chinese economic data easily outperform forecasts, with second-quarter gross domestic product rising 6.9 percent from a year earlier.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, fell to a 10-month low of 94.86 in overnight trade. Most recently at 95.00 in early US trade.

At the same time, US Treasury 10-year Treasury yields fell to about 2.31%, while the highest levels of remains remained close to 2.39%, which was discussed earlier this month.

Economic reports will remain important next week as market players seek to measure the strength of the world’s largest economy and how this will affect the Fed’s monetary policy outlook.

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