Gold prices closed lower in the local market on Tuesday in the midst of a stronger dollar, extending a Fed-inspired losing streak triggered last week when the US central bank sent hawkish indications that it could raise interest rates before the end of the year. Investors await the release of Friday's US national employment report for further clues on whether the Federal Reserve could Distribute monetary policy at the next FOMC meeting on Dec. 15-16. Nonfarm payrolls were expected to jump up by 190,000 in Oct, significantly higher than a relatively soft reading of a 142,000 gain a month earlier. A rate hike is viewed as bearish for gold, which is not attached to interest rates and struggles to compete with high-yield bearing assets. At the MCX, Gold futures for December 2015 contract closed at Rs 25,922 per 10 gram, down by 1.84 per cent after opening at Rs 26,393, against the previous closing price of Rs 26,409. It touched the intra-day low of Rs 25,884.
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