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| Share market tips |
Share market tips - Gold futures take flight by more than 1 per-cent in the native market on Friday as investors & speculators booked fresh positions in the precious metal as the Fed held interest rates not changed near to zero amid concerns that a worsening global economic outlook may restrain growth in the US(United States) economy and suppress already weak inflation, bolstering the lure for the bullion as a store of value.
Fed Chair Janet Yellen stressed that global developments overshadowed indications of strong progress in the world’s highest economy.
The Fed told that it needed to see "Further few improvements in the labour market," & be "reasonably confident" that inflation would rise to targeted levels before increasing rates.
A delay in policy tightening in the US is bullish for Gold, a non-interest bearing asset.
Gold may succumb to a sell-off today after three officials from the Fed over the weekend stressed that rate tightening was warranted this year amidst falling US unemployment and robust economic expansion which is likely to outweigh jitters from slower global growth and financial market turbulence.
At the MCX, Gold futures for October 2015 contract closed at Rs 26,469 per 10 gms, up by 1.15 per cent after opening at Rs 26,350, in against with the previous closing price of Rs 26,168. It reached the intra-day high of Rs 26,590.
Fed Chair Janet Yellen stressed that global developments overshadowed indications of strong progress in the world’s highest economy.
The Fed told that it needed to see "Further few improvements in the labour market," & be "reasonably confident" that inflation would rise to targeted levels before increasing rates.
A delay in policy tightening in the US is bullish for Gold, a non-interest bearing asset.
Gold may succumb to a sell-off today after three officials from the Fed over the weekend stressed that rate tightening was warranted this year amidst falling US unemployment and robust economic expansion which is likely to outweigh jitters from slower global growth and financial market turbulence.
At the MCX, Gold futures for October 2015 contract closed at Rs 26,469 per 10 gms, up by 1.15 per cent after opening at Rs 26,350, in against with the previous closing price of Rs 26,168. It reached the intra-day high of Rs 26,590.
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