MCX Gold News Update

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MCX Gold News Update

As per MCX intraday research Mumbai base company report for :

 Gold steadied on weaker dollar, registered third weekly gains

Gold held steady on Friday as the dollar hovered near one-week lows, keeping the metal on track for a third week of gains amid political uncertainties in the United States and Europe. A gauge of major world equity markets inched to a record for a second straight day on Thursday, but took a breather on Friday. Although the strong likelihood of the Fed raising U.S. interest rates this year may pressure gold in the longer term, it will be the cocktail of events in Europe, Brexit woes and the Trump saga that may ensure gold remains buoyed in the short term. Holdings of SPDR Gold, the world’s largest gold-backed exchange-traded fund, have risen 5.6 percent so far this month, the most since June 2016. Fed Chairwoman Janet Yellen spent two days this week testifying on Capitol Hill. She said on Tuesday that the Fed has penciled in three interest-rate hikes this year and on Wednesday she defended the central bank’s monetary and bank regulatory policy from House Republicans unhappy with the pace of economic growth and the health of the financial sector.

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