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Gold Market Updates for 6 March 2017

Gold Market Updates for 6 March 2017

Gold futures were trading bigger during afternoon trade in the domestic market on Monday as investors & speculators extended their positions in the precious metal on increase in safe-haven desired on weaker dollar amid rising geopolitical tensions over North Korea. Market participants are closely watching developments after the reclusive state fired 4 ballistic missiles into the sea off Japan’s northwest coast, days after it promised retaliation over US-South Korean military drills. Meanwhile, US Fed Chair Yellen capped off a seemingly coordinated push from the central bank when she cemented the view that the Fed will raise rates at its next meeting on March 14 to 15, & likely be able to move faster after that than it has in years. At the MCX, gold futures for April 2017 contract is trading at Rs 29158/10 grams, upward by 0.48 %, after opening at Rs 29100, against a last close of Rs 29020. It touched the intra-day max of Rs...
Gold Market Updates for 16 Feb 2017

Gold Market Updates for 16 Feb 2017

Gold trading range for the day is 28764-29360. Gold gained shrugging off earlier pressure from stronger-than-forecast U.S. inflation and retail sales that added to expectations for near-term U.S. interest rate rises. Feds Harker said his view that the economy is ready for three rate hikes this year does not depend on any fiscal policy changes under Trump. Holdings in SPDR Gold Trust rose 0.32 percent to 843.54 tonnes on...
Gold & Silver Updates for 14 Dec 2016

Gold & Silver Updates for 14 Dec 2016

Silver trading range for the day is 40534-42110.Silver dropped as investors turned their attention to the outcome of the Federal Reserve’s two-day meeting. The Fed is widely expected to hike rates for the first time in a year on at the conclusion of its meeting, with investors pricing in a 100% chance of an increase. Holdings at ishares silver trust dropped by 0.53% i.e. 56.04 tonnes to 10664.32 tonnes from 10664.32 tonnes. Gold trading range for the day is 27380-27726.Gold dipped slightly ahead of key two-day meeting of U.S. Fed that is expected to deliver the second interest rate rise in a decade. Feds Charles Evans said that it was still early to have a good idea of what fiscal policies and other events are going to mean. Reflecting lackluster sentiment, holdings of the SPDR Gold Trust, holdings are down over 9 pct since...
Gold & Silver Updates for 13 Dec 2016

Gold & Silver Updates for 13 Dec 2016

Silver trading range for the day is 40781-42271.Silver ended with gains lifted by a weaker dollar ahead of anticipation of an interest rate hike at Federal Reserve meeting. Consumer sentiment in the U.S. has improved by much more than anticipated in the month of December, according to a report. Market-based indicators put the odds of a Fed rate hike next week at nearly 100%. Gold trading range for the day is 27321-27855.Gold gains with U.S. Treasury yields coming off their highs and the U.S. dollar falling ahead of the start of a two-day Federal Reserve meeting. Gold premiums in China held near three-year highs this week amid fears of limited supply of the precious metal. Dealers in India, the world’s No.2 consumer of the metal were offering a discount of up to USD 5 an ounce in...
Gold & Silver Updates for 12 Dec 2016

Gold & Silver Updates for 12 Dec 2016

Silver futures ended lower in the domestic market on Friday as participants engaged in cutting their positions taking weak cues from global market. Market men attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas & profit-booking by participants at existing levels. At the MCX, silver futures for March 2017 contract ended at Rs 41,250/kg, downward by 0.66 %, after opening at Rs 41,417, against a last close of Rs 41,525. It touched the intra-day low of Rs 41,126. Gold futures ended lower in the domestic market on Friday as the dollar firmed in expectation of an interest rate hike at next week’s Federal Reserve meeting. Market-based indicators put the odds of a Fed rate hike next week at nearly 100 percent. The move would be central bank’s second post crisis rate hike. The first occurred nearly a year ago at the Fed’s December 2015 policy meeting. At the MCX, gold futures for February 2017 contract ended at Rs 27583/10 grams, downward by 0.70 %, after opening at Rs 27,750 against a last close of Rs 27,777. It touched the intra-day low of Rs...
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