Share market tips : Gold Spring Back In Domestic Market

In early morning trade, Gold prices spring back in the native market on Wednesday following significant losses in the prior session as traders await the outcome of the two-day US Federal Reserve policy meeting, for greater clarity over the outlook for interest rates in the world’s largest economy. The world’s top most central bank is considering the timing for a maiden interest rate lift-off since 2006. Click Here share market tips

Moreover, the Fed may stop short of offering any major clues over the exact timing for a hike in borrowing charges as it awaits a heavy dosage of US economic data including jobs and Q2 GDP growth to determine the progress in the American economy after a Q1 stutter while heightened global risks and the strength of the dollar will also be weighed as the Fed considers when to say goodbye to its zero interest rate policy.

Prediction that the ongoing turmoil in Chinese shares may have severe repercussions on Gold demand in the Asian nation, the world’s 2nd biggest bullion consumer curbed gains in the yellow metal.At the MCX, August 2015 contract for Gold futures is trading at Rs 24,791 per 10gms, up by 0.16 per cent after opening at Rs 24,778, against its preceding closing price of Rs 24,752. It touched the intra-day high of Rs 24,799. At 11 O' Clock.