Bullion tips & updates : Bullion strikes reverse gear 5 Nov, 2015

Bullion tips & updates : Gold futures closed lower in the native market on yesterday as investors and speculators quit their positions in the precious metal as Fed Chair Janet Yellen’s remarks overnight in which she signaled that a December interest rate hike was a “live possibility” weighed on the yellow metal which becomes less attractive in a rising interest rate scenario.

Fed Vice Chairman Stanley Fischer emphasize that inflation wasn’t too far below the central bank’s goal while New York Fed President William Dudley echoed Yellen’s remarks over a rate lift-off in Dec if economic data continued to be in strong position.Click Here Bullion tips

Private payrolls in the United States clinches 182,000 in October, following a revised 190,000 in Sep & beating forecasts for an 180,000 gain, indicating strengthening US labour market recovery that boosted to the case for policy tightening for the 1st time during a decade.

Gold futures for Dec, 2015 contract closed at Rs 25,771 per 10 gms, down by 0.58 per cent after opening at Rs 25,940, in comparison to the previous closing price of Rs 25,922. It reached the intra-day low of Rs 25,732.