Gold flat despite strengthening dollar on Tuesday morning

Gold futures closed flat in the domestic market on Tuesday as the commodity pared an earlier loss in the session, even as U.S. equities resumed their record run and the dollar strengthened.

Some market participants attributed gold’s improved trading level to recent polls that were showing far-right presidential candidate, Marine Le Pen, widening her lead ahead of France’s coming election.

At the MCX, gold futures for April 2017 contract ended at Rs 29303 per 10 grams, down by 0.00 per cent, after opening at Rs 29,202 against a previous close of Rs 29,303. It touched the intra-day low of Rs 29,075.

 

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Gold up on weak US dollar in Todays Market

 

Gold futures closed higher in the domestic market on Friday as the dollar fell on disappointment that President-elect Donald Trump didn’t provide details on his economic plans at a closely watched news conference.

Gold is inversely influenced by moves in the dollar, as strength in the greenback makes assets priced in the currency, including most gold on the global markets, more expensive to buyers using other monetary units.

At the MCX, gold futures for February 2017 contract ended at Rs 28398 per 10 grams, up by 0.02 per cent, after opening at Rs 28,360 against a previous close of Rs 28,393. It touched the intra-day high of Rs 28,440.

 

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Today Gold rises on weak US dollar in market

 

Gold futures closed lower in the domestic market on Friday after the latest consumer confidence data was released, while a pullback in Treasury yields and the US dollar lent support.

Recently, gold has been pressured by rising treasury yields and a strong greenback, but on Friday, the ICE US Dollar Index was trading with a downside bias, while the yield on the 10-year Treasury note fell.

At the MCX, gold futures for February 2017 contract ended at Rs 27000 per 10 grams, up by 0.12 per cent, after opening at Rs 26,995 against a previous close of Rs 26,968. It touched the intra-day high of Rs 27,042.

 

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Gold closes lower as dollar advances in the domestic market

Gold futures closed lower in the domestic market on Thursday as the dollar strengthened against the euro after a European Central Bank decision to pare its bond-buying program.

Gold remains confined to relatively tight trading ranges. The commodity has been sensitive to central-bank policies, with the ECB’s moves sparking a rally in the dollar, weighing on dollar-priced assets. Next week’s Federal Reserve policy meeting also could influence precious metals.

Gold has been tracking the dollar and Treasury yields ahead of these interest-rate policy decisions.

At the MCX, gold futures for February 2017 contract ended at Rs 27751 per 10 grams, down by 0.57 per cent, after opening at Rs 27,911 against a previous close of Rs 27,911. It touched the intra-day low of Rs 27,750.

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Today Gold Ends slightly higher in Monday’s trade

 

Gold futures closed slightly higher in the domestic market on Monday recovering from sharper losses earlier in the session, as prospects for a rate increase later in the month by the Federal Reserve and the possibility that monetary policy might tighten at an accelerated pace in 2017 weighed on the metal.

The rise in gold came as concerns sparked by Italy’s referendum result, which would typically result in haven demand for the asset and other precious metals.

At the MCX, gold futures for December 2016 contract ended at Rs 28475 per 10 grams, up by 1.99 per cent, after opening at Rs 28,200 against a previous close of Rs 27,920. It touched the intra-day high of Rs 28,490.

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Today Gold Rises on US election likely outcome

Gold futures closed higher in the domestic market on Tuesday after a new poll showed that Enthusiasm for Hillary Clinton has ebbed since the renewal of the FBI’s email investigation ahead of the upcoming U.S. presidential election.

The market is also keeping an eye on the outcome of the Federal Reserve's two-day policy meeting, which begins on Tuesday. The U.S. central bank is not expected to raise interest rates, but could signal its intent to hike in December amid signs the economy is picking up steam.

At the MCX, gold futures for December 2016 contract ended at Rs 30295 per 10 grams, up by 1.15 per cent, after opening at Rs 30,000, against a previous close of Rs 29,950. It touched the intra-day high of Rs 30,314.

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Today Gold up as dollar remains under pressure in Market

 

Gold futures closed higher in the domestic market on Thursday as the U.S. dollar remained moderately challenged by the upcoming US presidential debate and after the missed U.S. housing-sector data.

The yellow metal extended its gains after the remarkable recovery of China’s economy, one of the top gold enthusiasts worldwide.

At the MCX, gold futures for December 2016 contract ended at Rs 29905 per 10 grams, up by 0.01 per cent, after opening at Rs 29,990, against a previous close of Rs 29,901. It touched the intra-day high of Rs 30,063.

 

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Gold futures closed higher in the domestic market

Gold futures closed higher in the domestic market on Tuesday as strength in the British pound helped the U.S. dollar ease back from recent multi month highs.

Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

At the MCX, gold futures for December 2016 contract ended at Rs 29776 per 10 grams, up by 0.24 per cent, after opening at Rs 29,750, against a previous close of Rs 29,705. It touched the intra-day high of Rs 29,840. 

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Precious Metal Updates for 14 Oct 2016

 

Gold futures closed higher in the domestic market on Thursday as speculators enlarged positions amid a firm global trend.

Market analysts attributed rise in gold prices at futures trade to building up of fresh positions by participants, tracking positive global cues.

At the MCX, gold futures for December 2016 contract ended at Rs 29720 per 10 grams, up by 0.23 per cent, after opening at Rs 29,800, against a previous close of Rs 29,651. It touched the intra-day high of Rs 29,885.
 

Silver futures closed lower in the domestic market on Thursday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.

At the MCX, silver futures for December 2016 contract closed at Rs 41,936 per kg, down by 0.27 per cent, after opening at Rs 42,300, against a previous close of Rs 42,051. It touched the intra-day low of Rs 41,851.

 

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Yellow Metal little changed Ahead of Fed, BOJ Outcomes

 

Gold futures were little changed during the morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the precious metal ahead of the outcomes of the key central bank policy meetings in Japan and the US later in the day.

Thus, safe haven assets became less attractive for investors amid uncertainity of the outcome.

The US central bank is widely expected to hold interest rates unchanged at 0.25 per cent to 0.50 per cent, and could hint at a rate hike by the end of the year. On the other hand, BOJ is expected to make negative interest rates the centrepiece of a new policy framework - widely seen as a desperate attempt to show it still has the means to fight chronic stagnation.

At the MCX, gold futures for October 2016 contract is trading at Rs 30,900 per 10 grams, down by 0.08 per cent, after opening at Rs 30,975, against a previous close of Rs 30,924. It touched the intra-day low of Rs 30,841.

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Gold were trading with slim losses during morning trade

 

Gold futures were trading with slim losses during morning trade in the domestic market on Friday as investors and speculators stayed on the sidelines as the European Central Bank (ECB) played down the need for further monetary stimulus despite clear signs that the recovery in the 19-member Euro area economy may be faltering, curbing the lure for the yellow metal, a hedge against the inflationary risk of monetary stimulus.

The Frankfurt-based central bank on Thursday refrained from expanding its QE program while leaving key interest rates unchanged.

Investors are now weighing whether the Bank of Japan will announce fresh easing measures when it meets this month.

At the MCX, gold futures for October 2016 contract is trading at Rs 31,200 per 10 grams, down by 0.01 per cent, after opening at Rs 31,245, against a previous close of Rs 31,203. It touched the intra-day low of Rs 31,190. 

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Gold Down As dollar stabilizes in the Domestic market

 

Gold futures closed lower in the domestic market on Wednesday swinging between gains and losses as traders contrasted the commodity’s finish at a three-week high on Wednesday against the latest batch of economic data and its implications on the timing of future rate hikes. On Wednesday, the US dollar also stabilized and this discouraged further purchases of gold by investors. 

 

At the MCX, Gold futures for October 2016 contract closed at Rs 31,315, per 10 gram, down by 0.20 per cent after opening at Rs 31,440, against the previous closing price of Rs 31,378. It touched the intra-day low of Rs 31,250.

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Today Gold Rises on firm overseas cues in the domestic market

Gold futures closed higher in the domestic market on Thursday tracking a firm trend overseas as traders indulged in building up fresh positions.

Analysts attributed the rise in gold futures to a firm trend overseas where gold climbed as the dollar retreated after minutes from July's Federal Reserve meeting signaled that US interest rates are poised to stay lower for longer.

At the MCX, Gold futures for October 2016 contract closed at Rs 31,478, per 10 gram, up by 0.35 per cent after opening at Rs 31,399, against the previous closing price of Rs 31,368. It touched the intra-day high of Rs 31,518.

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Gold Dips on strong Nonfarm-payrolls in the Domestic Market

 

Gold futures closed lower in the domestic market on Friday following a stronger-than-expected nonfarm-payrolls report that might provide the Federal Reserve evidence to lift benchmark interest rates sooner than later.

Stocks also vaulted up after the employment report was released, signaling fading demand for havens and a spike in risk appetite.

At the MCX, Gold futures for August 2016 contract closed at Rs 31,090, per 10 gram, down by 1.68 per cent after opening at Rs 31,600, against the previous closing price of Rs 31,620. It touched the intra-day low of Rs 30.674. 

 

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Gold Rises After Fed’s Dovish Stance In the Market today

 

Gold futures closed higher in the domestic market on Thursday as many gold investors saw the Fed as dovish, even if it left a September interest-rate increase on the table.

To some traders, the central bank’s statement emphasized a reluctance to lift rates too quickly, in the wake of the U.K.’s decision to exit the European Union. Uncertainty in the aftermath of the so-called Brexit vote has been supportive for gold futures.

At the MCX, Gold futures for August 2016 contract closed at Rs 31,012, per 10 gram, up by 0.08 per cent after opening at Rs 31,149, against the previous closing price of Rs 30,986. It touched the intra-day high of Rs 31,285.

 

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