Gold Futures Prices Trim Gains after Upbeat U.S. Employment Data

Gold Futures Prices Trim Gains after Upbeat U.S. Employment Data

NEW YORK (Reuters) – Gold futures prices fell on Wednesday after the release of upbeat US employment data pushed the dollar higher as investors still look to the close of the Fed’s monthly monetary policy meeting.

Comex gold futures were up 0.50% or about $6.22 at $1,276.61 a troy ounce.

Spot gold was down 0.1 per cent at $1,269.86 per ounce.

MCX Gold futures were down 0.15 per cent, or Rs 45, at Rs 29,108 per 10 gram.

The dollar strengthened after the payroll processor reported that employers in the US private sector added 235,000 jobs in October, beating economists’ expectations.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, rose 0.21% to hit 94.65.

Trump said Federal Reserve Chairman Jerome Powell considered him more cautious than other contenders.

In broader markets, the dollar rose against a basket of currencies, while Asian stocks rose at a 10-year high on Wednesday on strong global economic growth.

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
Posted in Commodity, MCX, Stocks Market

Gold Futures Down as Dollar Edges Higher on Stronger Economic Outlook

Gold Futures Down as Dollar Edges Higher on Stronger Economic Outlook

Gold futures rose above session highs in early trade on Tuesday as the dollar rallied against the backdrop of rising economic reports that boosted investor expectations for US economic growth.

Gold futures for December delivery on the Comex Exchange fell by $6.48, or 0.51%, to $1,271.22 a troy ounce.

MCX Gold futures were down 0.22 per cent, or Rs 65, at Rs 29,319 per 10 gram.

Spot gold was little changed at $1,275.54 per ounce. It has shed about 0.3 per cent so far in October, in what could be its second straight monthly decline.

The Conference’s consumer confidence index rose to 125.9 in October from 119.8 in September, beating economists’ expectations of 121.

The consumer confidence index is a leading indicator of consumer spending, which plays a key role in overall economic activity.

PMI rose in the Chicago index (BMI) to 66.2, above the September reading of 65.2. Topped expectations reading at 61.

Emerging reports are emerging ahead of the busy few days of the economic calendar on monetary policy as the Federal Reserve is due to announce its interest rate decision on Wednesday while President Donald Trump is expected to announce the next chairman of the Federal Reserve on Thursday.

President Donald Trump is moving toward the appointment of Federal Reserve governor Jerome Powell, who shares a similar position on Janet Yellen on monetary policy – as the next chairman of the Federal Reserve, Reuters reported on Monday.

The dollar was steady against the yen after the Bank of Japan’s decision to keep monetary policy steady even as inflation expectations fell slightly for the current fiscal year.

The US dollar fell 0.4 percent against a basket of currencies on Monday after former US President Donald Trump’s former aides, including former campaign director Paul Manavort, were reported to have been accused by the federal authorities of investigating Russian intervention in the 2016 election.

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

Posted in Commodity, MCX, Stocks Market

Gold Futures Prices Hold Steady after Upbeat U.S. Data

Gold Futures Prices Hold Steady after Upbeat U.S. Data

Gold futures prices rose on Monday after the release of upbeat US data, as investors remained on the sidelines of the federal policy meeting, which begins on Tuesday.

Comex gold futures were little changed at $1,271.8 a troy ounce.

MCX Gold futures were trading 0.12 per cent, or Rs 36, down at Rs 29,282 per 10 gram.

The US Department of Commerce said on Monday that personal spending rose more than expected last month.

The US dollar has already risen after the Commerce Department said on Friday that the US economy grew at an annual rate of 3% in the third quarter, better than the 2.5% forecast.

Confirmed reading the stronger than expected if the Federal Reserve to raise interest rates at the end of the year.

The US dollar also supported after the Republican House of Representatives approved a budget plan for 2018 last week, which paved the way for tax reform. Some investors believe that tax reforms can boost growth and urge the Federal Reserve to raise interest rates at a faster pace.

Investors remained cautious, however, following a report that US President Donald Trump was considering the nomination of Federal Reserve Governor Jerome Powell to lead the US central bank, a move that would signal the continuity of monetary policy.

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

Posted in Commodity, MCX, Stocks Market

Gold Futures Prices Hit 2-Week Low as Dollar Rallies vs Yen

Gold Futures Prices Hit 2-Week Low as Dollar Rallies vs Yen

Gold futures prices rose to their lowest level in two weeks on Monday as the dollar rose to its highest level in three months against the yen to put pressure on precious metals. In addition to the ruling bloc in Japan achieved a landslide victory in the elections on Sunday, leaving the door open to loose monetary policy for a longer period.

Spot gold was down 0.4 per cent at $1,275.81 an ounce.

On the Comex Exchange, gold for December delivery lost $2.94, or about 0.2%, to $1.277.56 a troy ounce.

MCX Gold futures were trading 0.22 per cent, or Rs 66, down at Rs 29,488 per 10 gram.

The dollar index, which measures the strength of the greenback against a basket of six major currencies, rose 0.19% to hit 93.75.

Gold is sensitive to the strong dollar as gains in the US dollar have made precious metals more expensive for foreign currency holders.

The dollar support was found where hopes were strengthened in tax reforms, the US last week after the Senate approved a budget allowing the Republicans to pursue tax cuts without the support Dymraky.

The coalition led by Japanese Prime Minister Shinzo Abe of the Liberal Democratic Party won a total of 312 seats, while retaining two-thirds of the “vast majority” in the 465-member House of Representatives, local media reported.

Abe’s victory led to easing fears that the economic steps that are implemented under his leadership – such as monetary policy super-Japanese market – will finish and stop depreciation of the yen against the dollar.

The dollar also rose against a basket of major currencies, supported by higher US Treasury revenues and tax reform progress.

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.

Free Mcx Tips

Posted in Commodity, MCX, Stocks Market

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

Posted in Commodity, MCX, Stocks Market

Gold Futures Prices Trade Flat Onto Modest Gains Despite Dollar Strength

Gold Futures Prices Trade Flat Onto Modest Gains Despite Dollar Strength

Gold futures prices rose on modest gains on Thursday, although the US economic reports optimistic pushed the dollar to rise, where investors are still waiting for comments by a number of Fed officials later in the session.

Comex gold futures were up $2.98, or about 0.24%, at $1,279.87 a troy ounce, still within close distance of Tuesday’s eight-week low of $1,271.00.

MCX Gold futures were trading at Rs 29,290 ahead of the key US non-farm payrolls data to be released on Friday.

The US dollar found support after the US Department of Labor said initial jobless claims fell more than expected to 260,000 last week.

Another report showed that the US trade deficit narrowed in August and exports reached their highest level in two and a half years.

Federal Reserve Chairman Patrick Harker told a news conference in Austin, Texas, that he was still planning to raise interest rates this year and three next year.

The dollar index, which measures the strength of the dollar versus a basket of six major currencies, rose 0.27% to 93.56, not far from a one-and-a-half month high of 93.78.

Gold prices will remain volatile in the coming sessions, and are likely to see price declines, while the gold price of MSX will be supported by the weaker rupee, the trend is still weak in the counter.

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

Posted in Commodity, MCX, Stocks Market

Gold Prices Trades Higher in Asia Ahead of Yellen Speech

Gold Prices Trades Higher In Asia Ahead OF Yellen Speech

Gold futures prices in Asia rose on Wednesday as markets in China, Taiwan and South Korea closed for holidays and caution ahead of comments from the head of the US central bank later in the day.

Gold futures for December delivery on the Comex division of the New York Exchange rose 0.25% to $1,277.82 a troy ounce.

Spot gold had risen 0.3 per cent to $1,275.91 an ounce. It touched its lowest since mid-August at $1,267.76 on Tuesday.

MCX Gold futures were trading 0.15 per cent, or Rs 45, up at Rs 29,400 per 10 gram.

Gold prices have been limited to a narrow range of $ 7 for trading hovering above its lowest level in seven weeks amid the weakness of the dollar as investors awaited the trend of economic data from the first class and a letter from the President of the Federal Reserve softened later in the week.

The unrelenting talk in the community banking sector at a conference of the twentieth century atheist and on Wednesday amid growing speculation about her position as chairman of the Federal Reserve. It is noteworthy that the Governor of the Federal Reserve Bank of Jerome Powell and the governor of the former Federal Reserve Board Kevin Lars on the list of candidates to succeed Janet Yellen.

The US dollar fell 0.2 percent against a basket of major currencies on Wednesday after playing the best since mid-August on Tuesday.

According to experts, the market will control the most important non-farm payrolls this week, apart from the decision of President Donald Trump expected the leadership of the Fed, as well as upcoming speeches by politicians and US economic data.

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.

Free Commodity Tips

Posted in Commodity, MCX, Stocks Market
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 .