Yellow metal : Mcx Gold futures jumped in the native and international market on Thursday as fresh signs of underlying weakness in the world’s largest economy bolstered the safe haven lure for the yellow metal while a weaker dollar boosted the appeal of the yellow metal as an alternative investment.
Lower greenback makes gold cheaper for those holding other currencies, thus lifting demand.Click for bullion tips
Services growth in the US(United States) slowed for a fourth month on the trot in Feb 2016 as the industry shed jobs for the 1st time in two years.
Furthermore, the number of Americans who filed to claim unemployment insurance benefits rose previous week while factory orders climbed a less than expected 1.6 per cent in January.
Weaker than estimated data also raised speculation that the US(United States) Fed Reserve may delay further interest rate increment, bolstering the appeal of Gold as a store of value.
Mcx Gold may trade lower today on caution ahead of the Feb jobs data which may provide an insight into the trajectory of the Fed Reserve’s approach to increasing interest rates further.
MCX : Gold futures for April 2016 contract ended at Rs 29,616 per 10 gram, up by 0.94 per-cent after opening at Rs 29,275, as compared to the previous closing price of Rs 29,339. It then, reached the intra-day high of Rs 29,681.
Lower greenback makes gold cheaper for those holding other currencies, thus lifting demand.Click for bullion tips
Services growth in the US(United States) slowed for a fourth month on the trot in Feb 2016 as the industry shed jobs for the 1st time in two years.
Furthermore, the number of Americans who filed to claim unemployment insurance benefits rose previous week while factory orders climbed a less than expected 1.6 per cent in January.
Weaker than estimated data also raised speculation that the US(United States) Fed Reserve may delay further interest rate increment, bolstering the appeal of Gold as a store of value.
Mcx Gold may trade lower today on caution ahead of the Feb jobs data which may provide an insight into the trajectory of the Fed Reserve’s approach to increasing interest rates further.
MCX : Gold futures for April 2016 contract ended at Rs 29,616 per 10 gram, up by 0.94 per-cent after opening at Rs 29,275, as compared to the previous closing price of Rs 29,339. It then, reached the intra-day high of Rs 29,681.
Stay tuned with Epic Research & get accurate Stock Tips and earn good profit from the market.
ReplyDelete