Bullion tips & updates : Gold futures locked down in the native market on yesterday after minutes from the Fed Reserve’s September policy-setting meeting showed that central-bank officials held off on an increment in interest-rate because downside risks had went up.
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| Bullion tips |
That implied the central bank may further delay raising rates, which is supportive for gold. Few of the selling may have been because of the Chinese traders taking few profits on the latest strength in gold, following the end to the country’s “Golden Week” holiday.
A reading of US(United States) weekly jobless claims, which showed that the number of people applying for unemployment benefits marked its lowest level since mid-July, did little to change gold’s downward slide Thursday. At the MCX, December 2015 contract for Gold futures closed at Rs 26,446 per 10 gms, down by 0.41 per-cent after opening at Rs 26,501, in against to the previous closing price of Rs 26,555. It reached the intra-day low of Rs 26,337.
A reading of US(United States) weekly jobless claims, which showed that the number of people applying for unemployment benefits marked its lowest level since mid-July, did little to change gold’s downward slide Thursday. At the MCX, December 2015 contract for Gold futures closed at Rs 26,446 per 10 gms, down by 0.41 per-cent after opening at Rs 26,501, in against to the previous closing price of Rs 26,555. It reached the intra-day low of Rs 26,337.
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