MCX GOLD TIPS | Gold drops as traders confident of Fed hike

MCX GOLD TIPS | Gold prices fell by 0.54% on Thursday with markets increasingly confident of a Federal Reserve rate hike next week. Investors goes on to prepare for next week's critical Federal Reserve meeting where the U.S. central bank is largely expected to raise short-term interest rates for the 1st time in nearly a decade. A rate hike is viewed as bearish for Bullion, which is not attached to interest rates and struggles to compete with high-yield bearing assets.

Gold futures for February 2016 agreement, at MCX, were trading at Rs. 25,463 per 10 grams, down by 0.54 per cent after opening at Rs. 25,515 against the last closing price of Rs. 25,602. It touched the intra-day low of Rs. 25,460 till the trading.

Further, a stronger $ reduced the appeal of gold as an alternative asset. Stronger greenback makes the Gold expensive for those holding other currencies, thus reducing demand.

Commodity Tips: Gold advances after Fed signals gradual pace of tightening

Commodity Tips : Gold futures rallied in the domestic and overseas market on Thursday as investors and speculators booked fresh positions in the precious metal as minutes from the US Federal Reserve’s latest policy meet, released late on Wednesday warranted a gradual pace of interest rate hikes in the world’s biggest economy, bolstering the outlook for the bullion as a store of value.

A gradual pace of tightening will benefit gold, which loses sheen as interest rates rise.

The minutes also reaffirmed the Fed’s faith in the US economy with most policymakers indicating that economic conditions for a maiden interest rate hike since 2006 will be met by the Federal upcoming meet in December. The Fed will meet next on December 16-17.

Slow and steady pace of rate hikes would enable traders and consumers to respond to them and accordingly adjust to them. A surge in United state payrolls in October and robust consumer spending has bolstered the case for a rate lift-off.

Gold may extend gains today after Fed Vice Chairman Stanley Fisher said that policymakers have done everything they could to prepare markets for a first rate hike in almost a decade.

At the MCX, Gold futures for December 2015 contract closed at Rs 25,291 per 10 gram, up by 0.79 per cent after opening at Rs 25,186, against the previous closing price of Rs 25,094. It touched the intra-day high of Rs 25,443.

Commodity Tips: Bullion ends higher

Commodity Tips: Gold futures closed higher in the domestic market on Wednesday on short covering by speculators while a sharp depreciation in the Indian rupee against the US dollar also exerted upward pressure on domestic bullion prices.

However, the gains in the bullion were limited by rising speculation that the US Federal Reserve will raise interest rates for the first time in nearly a decade, next month, curbing the lure for the yellow metal as a store of value.

Gold, a non-interest hike asset tends to lose out in a rising interest rate scenario.

A surge in US payrolls in October and robust consumer spending has bolstered the case for a rate lift-off.

Gold may slip back into losses today as the US Federal Reserve minutes signaled that policy tightening may be appropriate in December, even as the minutes warranted a gradual pace of rate hikes.

The minutes also reaffirmed the Fed’s faith in the world’s biggest economy with most policymakers indicating that economic conditions for a maiden interest rate hike since 2006 will be met by the Fed’s upcoming meet in December. At the MCX, Bullion futures for Dec 2015 contract closed at Rs 25,094 per 10 gram, up by 0.26 per cent after opening at Rs 24,997, against the last closing price of Rs 25,028. It touched the intra-day high of Rs 25,174.

Commodity Trading Tips: Gold logs mild gains on bargain buying

Commodity Trading Tips: Gold futures posted mild gains in the domestic market on Friday as the sharp run of losses suffered by the precious metal in current sessions owing to fears over US monetary tightening offered investors and speculators good bargain buying opportunity, in the bullion at existing levels.

Bullion has been hit lately by fears that the US Fed may raise interest rates in December, curbing the yellow metal’s appeal as a store of value.

Traders weighed mixed US economic data which showed that retail sales edged up in October, consumer sentiment hit a four-month high this month but producer prices fell for a second straight month, down 0.4 per cent in October.

However, the data wasn’t enough to diminish bets of a Fed interest rate lift-off next month with policymakers from the world’s biggest central bank signaling the case for a hike in borrowing costs in December, in recent days.

Gold may extend gains today as the deadly terror attacks in Paris on Friday spur the demand for safe haven assets.

At the MCX, Gold futures for December 2015 contract closed at Rs 25,372 per 10 gram, up by 0.17% after opening at Rs 25,390, against the previous closing price of Rs 25,329. It touched the intra-day high of Rs 25,499.

Mcx Bullions Tips - Gold closes higher on strong global cues as on 06 Aug, 2015

Gold futures ended higher in the indian market on Wednesday after data showed that US non-farm private employment rose less than await in this  July, irrigate optimism over the power of the economy and fanning hopes that the Federal Reserve could delay raising interest rates until the very end of 2015. Payroll processing firm ADP said earlier that non-farm private employment raise by 185,000 last month, below expectations for an increase of 215,000. Market players were also waiting for Friday's US nonfarm payrolls describe. The agreement assume is that the report will show jobs devlop of 223,000. Gold is likely to trade higher today with the focus ahead on US jobs data at the end of the week. At the MCX, Gold futures for this  August 2015 contract closed at Rs 24,705 per 10 gram, up by 0.12 per cent after starting at Rs 24,535, against the previous closing price of Rs 24,675. It touched the intra-day high of Rs 24,706.

Mcx Bullion Tips - Gold up on softer dollar; platinum and palladium at multi-year lows as on 05 Aug, 2015

Mcx Bullion Tips - Gold rose on Tuesday as the dollar debilitated after delicate U.S. financial information, while platinum and palladium hit multi-year lows on oversupply and languid autocatalysts request.

Platinum XPT= plunged to its most reduced subsequent to January 2009 at $940.50 an ounce, while palladium XPD= hit a close to three-year low of $586.30 an ounce.

"Diggers keep on expanding generation in a market that is as of now oversupplied and just critical cuts would help platinum and palladium costs recoup," Bank of America-Merrill Lynch examiner Michael Widmer said.

Both metals, for the most part utilized as a part of impetuses to tidy up vehicle debilitate emanations, were further forced by a private study on Monday that demonstrated China's manufacturing plant movement shrank more than at first assessed in July.

Mcx bullion Tips - Greenback strength weighs on Bullion as on 04 Aug, 2015

Mcx Bullion Tips - The yellow metal succumbed to modest losses in the domestic market on Monday as investors and speculators exited risky bets in Gold as a stronger dollar cut the demand for the bullion as an alternative asset.

Stronger greenback makes Gold more exorbitant for those holding other currencies, thus dimming demand.

However, soft US economic data raised doubts whether the US Federal Reserve will undertake a maiden interest rate lift-off since 2006, this year, supporting the lure for Gold as a store of value, trimming losses in the precious metal.

Mcx Bullion Tips - American manufacturing enlarge at a slower pace in July; consumer spending gains in June were the smallest since February while construction spending rose the least since January in June, signaling underlying softness in the world’s biggest economy.

Meanwhile, the core Personal Consumption Index, the Fed’s preferred inflation gauge rose 0.1 per cent in June from May, while climbing 1.3 per cent from June 2014, remaining well below the Fed’s 2 per cent target.

Gold may trade on a cautious note today as traders eye US June factory orders numbers.

At the MCX, Gold futures for August 2015 contract closed at Rs 24,761 per 10 gram, down by 0.21 per cent after starting at Rs 24,818, oppoed the previous closing price of Rs 24,813. It touched the intra-day low of Rs 24,710.

MCX Bullions Tips - Yellow metal extends steep slide as on 23 July, 2015

MCX Bullions Tips - Gold futures increase a reduce in the domestic market on Wednesday as robust US housing data signaled the improving health of the world’s biggest economy, bolstering the case for the US Federal Reserve to begin a lift-off in interest rates for the first time since 2006, curbing the lure for the bullion as a store of value.

MCX Bullions Tips - Sales of existing homes in the US surged to the highest level in eight years, up by 3.2 per cent to a 5.49 million annual pace in June 2015.

Gains in the dollar also limited Gold’s demand as an alternative asset. hard greenback makes Gold more costly for those belongings other currencies, thus fade nrrds.

A rout in other commodities including metals and oil has signaled lower global inflation, dampening gold’s appeal as an inflation hedge.

Further, a return to calm at global financial markets with Grexit safely averted and China’s stock markets bouncing back after a rout earlier this month has hit the bullion’s safe haven lure.

Mcx Bullions Tips - Its Gloom and Doom for Gold as on 21 July, 2015

MCX Bullions Tips - Against the backdrop of worries over a near-term Fed rate hike, ebbing safe haven demand and a roaring greenback, the yellow metal extended losses from a five-year low, tanking nearly 2 per cent in the domestic market on Monday.

Holdings in bullion-backed exchange traded funds fell to the lowest level in nearly seven years, signaling Gold’s fast dimming investment appeal. Assets in the SPDR Gold confiodence, the largest Gold-backed barter traded fund slumped to the lowest level since September 2008 when the subside of Lehman Brothers triggered the exceptional Recession.

MCX Bullions Tips - supposition that the US     confederate Reserve will raise interest rates for the first time since 2006, in the coming months as inflation shows signs of picking up and the labour market improves, hurt Gold’s appeal as a store of value, while firing up the dollar, and hence curbing the lure for the bullion as an alternative asset.
powerful greenback makes Gold more costly for those holding other currencies, thus dimming demand.

Meanwhile, easing fears over Greece also cut Gold’s safe haven demand as Greek banks opened following a three-week shutdown while the country made a 2 billion euro repayment to the IMF.

Gold may script a small rebound today as steep losses in previous sessions may trigger bargain buying in the metal.

At the MCX, Gold futures for August 2015 contract closed at Rs 25,034 per 10 gram, down by 1.82 per cent after starting at Rs 25,475, opposed the back ended price of Rs 25,498. It touched the intra-day low of Rs 24,904.

Mcx Bullions Tips - Gold closes lower as inflation data raise case for rate hike as on 20 July, 2015

MCX Bullions Tips - Gold prices ended lower in the domestic market on Friday as optimistic US inflation data bolstered hawkish arguments for an interest rate hike by the Federal Reserve later this year. The US Department of Labor's Bureau of Labor Statistics said its Consumer Price Index (CPI) rose by 0.3 per cent in June on a monthly basis, in line with agreement judge. On a year-over-year basis, the CPI obtain 0.1 % over analysts' predict for a flat reading. A reading of Core CPI, which strips out food and energy prices, allowing even more optimism for the hawks at the Fed in favor of an imminent rate hike. Further, the greenback rose, weakening the demand for the bullion as an alternative asset. A higher dollar makes gold cheaper for those holding other currencies, thus reducing gold needs. At the MCX, Gold futures for this August 2015 deal closed at Rs 25,498 per 10 gram, down by 1.06% after starting at Rs 25,733, opposed the back closing price of Rs 25,771. It touched the intra-day low of Rs 25,461 till the closing.

Mcx bullions Tips - gold closes lower amid bullish Greece blooming as on 17 July, 2015

MCX Bullions Tips - Gold prices ended lower in the domestic market on Thursday in the midst of positive developments in the Greek Debt crisis and mixed US economic data. Gold is typically viewed as a safe-haven for investors in period of severe economic doubt. After interim resolutions in both longstanding disputes advance of  this week, investors could be wary of even further declines in gold. Further, the greenback rose, weakening the demand for the bullion as an alternative asset. A higher dollar makes gold cheaper for those holding other currencies, thus reducing gold demand. However, losses were curbed due to instability in the Chinese economy and slow moving talks in the Greek Debt and Iranian Nuclear negotiations. At the MCX, Gold futures for August 2015 contract closed at Rs 25,771 per 10 gram, down by 0.29 per cent after starting at Rs 25,810, opposed the previous closing price of Rs 25,847. It touched the intra-day down of Rs 25,710 until the ending.