MCX Gold News Update

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MCX Gold News Update

As per MCX intraday research Mumbai base company report for :

Gold prices end down from 12-week highs :

Gold prices ended Thursday’s session down from its 12-week high, at the same time, the silver market saw some profit taking as March
silver futures ended the day relatively flat. A vulnerable dollar coupled with the persistent Trump uncertainties has bolstered gold’s safe-haven
allure. This yellow metal seems to be back in fashion in the short term with further inclines expected as investors scatter from riskier assets to
safety. The marketplace is buzzing about a reportedly contentious conversation between U.S. President Donald Trump and Australian Prime
Minister Malcom Turnbull, regarding refugees in Australia that were to be headed for the U.S. The uncertainty regarding the new U.S. president
and his administration are being blamed by some for jittery world stock markets the past couple of weeks. Such has benefited the safe-haven gold
market. Developments on the economic front Thursday pointed to higher interest rates eventually, but so far had limited impact on gold’s rise.
The number of Americans who applied for unemployment benefits at the end of January fell by 14,000 to 246,000, an extremely low level that
might foreshadow another solid employment report in the first month of the New Year.

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