MCX Gold News Update

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MCX Gold News Update

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As per MCX www.crudeoperator.com intraday research Mumbai base company report for :
Gold prices crawled higher on a weaker dollar after mixed U.S. jobs data late last week lowered expectations for near-term interest rate
hikes. US job growth surged more than expected in January as construction firms and retailers ramped up hiring, but wages barely rose, handing
the administration under President Donald Trump both a head start and a challenge as it seeks to boost the economy. The dollar fell versus the
euro and U.S. Treasury yields eased after the jobs report for January. US non-farm payrolls increased by 227,000 jobs last month, the largest gain in
four months, the Labor Department said average hourly earnings increased only three cents or 0.1 percent. Markets seem to be looking at the soft
wage data, which signal rather weak inflationary pressure, and therefore less need for the Fed to raise interest rates. The precious metal hit its
highest since Nov. 17 on Thursday at $1,225.30 an ounce after a Federal Reserve policy statement disappointed investors hoping for clearer signs
on interest rate hikes, knocking the dollar to a 12-week low. A strong U.S. payrolls report would have increased the possibility of a rate hike as
early as March. Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Shares, rose for a second day on Thursday by 1.5
tonnes to 811.22 tonnes


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