MCX Gold News Update

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MCX Gold News Update

As per MCX intraday research Mumbai base company report for :

 Gold set sights on a more than 3-month high

Gold futures tried for back-to-back gains Thursday, setting prices up for their highest finish in more than three months. The yellow metal’s gain on Wednesday snapped what had been a four-session fall stoked by expectations that the dollar would rise on heightened expectations for U.S. interest-rate hikes, following two days of testimony this week on Capitol Hill from Federal Reserve Chairwoman Janet Yellen. Some analysts, however, believe that gold’s modest near-term gains look vulnerable as U.S. equities remained near record highs amid optimism for the Trump administration’s plan to deliver tax reforms. Jitters ahead of a coming G-20 foreign ministers’ meeting—the first to be attended by members of the Trump administration—may have encouraged a cautious disposition. Concern over U.S. President Donald Trump’s policies, as well as elections in the Netherlands, France and Germany this year, have fuelled gold’s rise. Adding support to gold prices, SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, increased its bullion holdings for an 11th consecutive day on Wednesday.

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