Today Gold dips on fed rate hike expectation in market

 

Gold futures closed lower in the domestic market on Tuesday ahead of a widely-expected Federal Reserve interest-rate hike this week.

Expectations for the increase have already rallied the dollar and depressed metals prices, which suffered from a nine-session decline to their lowest level since late January, before Monday’s modest rise.

At the MCX, gold futures for April 2017 contract ended at Rs 28085 per 10 grams, down by 0.59 per cent, after opening at Rs 28,250 against a previous close of Rs 28,251. It touched the intra-day low of Rs 28,055.

 

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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 dips on strong US dollar in thr todays market

 

Gold futures closed lower in the domestic market on Wednesday as the Federal Reserve stood pat on interest rates, as expected, and offered few clues on the central bank’s next move.

Prices for the metal declined for the session as the dollar strengthened after healthy U.S. economic reports, including a better-than-expected snapshot of private-sector hiring, which some saw as lifting the odds of a series of interest-rate hikes from the Fed.

At the MCX, gold futures for February 2017 contract ended at Rs 28843 per 10 grams, down by 0.34 per cent, after opening at Rs 28,873 against a previous close of Rs 28,942. It touched the intra-day low of Rs 28,800.

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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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Gold closed higher in the domestic market on Monday

 

Gold futures closed higher in the domestic market on Monday as uncertainty surrounding the U.S. Federal Reserve’s pace of interest-rate hikes has helped weaken the dollar and drive down interest rates.

Higher interest rates can boost the dollar and make gold less competitive against interest-bearing investments.

At the MCX, gold futures for February 2017 contract ended at Rs 28065 per 10 grams, up by 0.64 per cent, after opening at Rs 27,915 against a previous close of Rs 27,887. It touched the intra-day high of Rs 28,080.

 

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Today Gold rises as speculators create fresh positions

 

Gold futures closed higher in the domestic market on Monday as speculators created fresh positions. Analysts said building up of positions by speculators led to rise in gold prices at futures trade here but absence of cues from global markets, which remained closed, capped the gains.

At the MCX, gold futures for February 2017 contract ended at Rs 27560 per 10 grams, up by 0.42 per cent, after opening at Rs 27,401 against a previous close of Rs 27,445. It touched the intra-day high of Rs 27,600.

 

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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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Today Gold dips as dollar advances in the domestic market

 

Gold futures closed lower in the domestic market on Friday as the dollar firmed in anticipation of an interest rate hike at next week’s Federal Reserve meeting. Market-based indicators put the odds of a Fed rate hike next week at nearly 100%. The move would be central bank’s second postcrisis rate hike. The first occurred nearly a year ago at the Fed’s December 2015 policy meeting.

Higher interest rates typically cause the dollar to strengthen, which often weighs on commodities like gold that have prices denominated in dollars.

At the MCX, gold futures for February 2017 contract ended at Rs 27583 per 10 grams, down by 0.70 per cent, after opening at Rs 27,750 against a previous close of Rs 27,777. It touched the intra-day low of Rs 27,531.

 

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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 metal loses its shine ahead of Yellen speech in market

Gold futures were trading little changed during the morning trade in the domestic market on Thursday as investors and speculators cut down their positions in the precious metal amid a weakening global trend ahead of US Fed Chair Yellen’s speech later this week.

Further, the fall in prices for gold was in-line with a weak trend overseas as investors hope for clarity this week on the near-term path for interest rates, hurting demand for the precious metal as a safe-haven investment.

At the MCX, gold futures for October 2016 contract is trading at Rs 31,034 per 10 grams, down by 0.04 per cent, after opening at Rs 31,029, against a previous close of Rs 31,046. It touched the intra-day low of Rs 31,014 

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Today in Indian Market Gold flat in volatile trade

 

Gold futures closed flat in the domestic market on Tuesday as traders await a monetary-policy speech from Federal Reserve Chairwoman Janet Yellen due later this week.

Shifting expectations about the Federal Reserve’s interest-rate policy ahead of a closely watched retreat in Jackson Hole, Wyo., where Yellen will speak on Friday, have resulted in small gyrations in the greenback.

At the MCX, Gold futures for October 2016 contract closed at Rs 31,379, per 10 gram, down by 0.00 per cent after opening at Rs 31,300, against the previous closing price of Rs 31,379. It touched the intra-day high of Rs 31,415. 

 

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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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