MCX Gold Oct 2016 : 08.09.2016
Click Here & Register To Get 2 days Trial Tips
Gold on MCX settled down -0.23% at 31305 dropped snapping a three-day win streak ahead of the Fed's Beige Book report. While sentiments still look firm as the dollar slipped and investors awaited cues on monetary stimulus from a ECB policy meeting due later in the day. The euro zone economy is widely expected to need more stimulus from the ECB, but it may not come at the bank's policy meeting on Thursday. While the case for a U.S. interest rate increase will be strong when Federal Reserve policymakers meet later this month, Richmond Fed President Jeffrey Lacker said on Wednesday. The U.S. labor market could already be at full strength, Kansas City Federal Reserve President Esther George said on Wednesday. Raising U.S. interest rates makes sense now that the economy is at full employment and "within sight" of the central bank's 2-percent inflation goal, San
Francisco Fed President John Williams said on Tuesday. The US economy expanded at a modest pace in July and August, the Federal Reserve said on Wednesday, but there was little sign that wage pressures are being felt beyond highly skilled jobs. From physical market side holdings of SPDR Gold Trust, fell 0.03 percent to 951.81 tonnes on Wednesday. While China's gold reserves rose to 58.95 million fine troy ounces (oz) at the end of August, from 58.79 million fine troy ounces at the end of July, the central bank said on Wednesday.
Technically market is getting support at 31214 and below same could see a test of 31124 level, And resistance is now likely to be seen at 31430, a move above could see prices testing 31556.
Gold trading range for the day is 31124-31556.
Gold prices dropped losing momentum due to profit-taking after gaining on economic data
that weakened the case for an imminent U.S. rate hike
The U.S. labor market could already be at full strength, Kansas City Federal Reserve
President Esther George said
China's gold reserves rose to 58.95 million fine troy ounces at the end of August, from 58.79 million fine troy ounces at the end of July, the central bank said.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Gold on MCX settled down -0.23% at 31305 dropped snapping a three-day win streak ahead of the Fed's Beige Book report. While sentiments still look firm as the dollar slipped and investors awaited cues on monetary stimulus from a ECB policy meeting due later in the day. The euro zone economy is widely expected to need more stimulus from the ECB, but it may not come at the bank's policy meeting on Thursday. While the case for a U.S. interest rate increase will be strong when Federal Reserve policymakers meet later this month, Richmond Fed President Jeffrey Lacker said on Wednesday. The U.S. labor market could already be at full strength, Kansas City Federal Reserve President Esther George said on Wednesday. Raising U.S. interest rates makes sense now that the economy is at full employment and "within sight" of the central bank's 2-percent inflation goal, San
Francisco Fed President John Williams said on Tuesday. The US economy expanded at a modest pace in July and August, the Federal Reserve said on Wednesday, but there was little sign that wage pressures are being felt beyond highly skilled jobs. From physical market side holdings of SPDR Gold Trust, fell 0.03 percent to 951.81 tonnes on Wednesday. While China's gold reserves rose to 58.95 million fine troy ounces (oz) at the end of August, from 58.79 million fine troy ounces at the end of July, the central bank said on Wednesday.
Technically market is getting support at 31214 and below same could see a test of 31124 level, And resistance is now likely to be seen at 31430, a move above could see prices testing 31556.
Gold trading range for the day is 31124-31556.
Gold prices dropped losing momentum due to profit-taking after gaining on economic data
that weakened the case for an imminent U.S. rate hike
The U.S. labor market could already be at full strength, Kansas City Federal Reserve
President Esther George said
China's gold reserves rose to 58.95 million fine troy ounces at the end of August, from 58.79 million fine troy ounces at the end of July, the central bank said.
