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| Bullion tips& calls |
Bullion tips & updates : Gold futures closed lower in the native market on Thursday last week as investors and speculators exited positions in the industrial metal after a top member of the US Fed Reserve called on policymakers to undertake an interest rate increase, for the 1st time in almost a decade, sometime later in 2015, lowering the lure for Gold as a store of value.
Fed Reserve Bank of San Francisco President John Williams told that the risks to the world’s biggest economy from the global rout haven’t worsened & domestic conditions remained strong, urging the case for policy tightening present year.Click Bullion tips Gold, being a non-interest bearing asset, tends to lose sheen during a rising interest rate scenario.
Gold futures may re-unite today as tepid US jobs data for September month pushed back bets of a hike in interest rates by the US Fed Reserve, bolstering the lure for the bullion as a store of value. American employers added fewer than estimated jobs in September while wages grinded to a halt and factory orders fell in August month, a sign that the global financial rout has reached the shores of the US(United States) economy, prompting the case for the Fed to delay tightening policy till the up-coming year.
At the MCX, Gold futures for October 2015 contract closed at Rs per 25,773 10 gram, down by 0.32 per cent after opening at Rs 25,827, in against to the previous closing price of Rs 25,856. It reached the intra-day low of Rs 25,711.
Fed Reserve Bank of San Francisco President John Williams told that the risks to the world’s biggest economy from the global rout haven’t worsened & domestic conditions remained strong, urging the case for policy tightening present year.Click Bullion tips Gold, being a non-interest bearing asset, tends to lose sheen during a rising interest rate scenario.
Gold futures may re-unite today as tepid US jobs data for September month pushed back bets of a hike in interest rates by the US Fed Reserve, bolstering the lure for the bullion as a store of value. American employers added fewer than estimated jobs in September while wages grinded to a halt and factory orders fell in August month, a sign that the global financial rout has reached the shores of the US(United States) economy, prompting the case for the Fed to delay tightening policy till the up-coming year.
At the MCX, Gold futures for October 2015 contract closed at Rs per 25,773 10 gram, down by 0.32 per cent after opening at Rs 25,827, in against to the previous closing price of Rs 25,856. It reached the intra-day low of Rs 25,711.
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