Tag Archives: MCX Gold News Update

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MCX Gold News Update

As per MCX www.crudeoperator.com intraday research Mumbai base company report for :

Gold prices rose for the fifth day in a row on Wednesday, extending a rally to a fresh three-month high amid ongoing worries over political risks in Europe and economic uncertainty in the U.S. Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to a session high of $1,242.50 a troy ounce, a level not seen since November 11. Investors remained focused on French politics, with recent opinion polls showing centrist Emmanuel Macron slightly ahead of conservative Francois Fillon in the first round, but behind far-right National Front leader Marine Le Pen. She has vowed to pull France out of the euro zone and hold a vote on its membership in the European Union. The first round of the election is scheduled for April 23, followed by the final run-off vote on May 7. Adding to the mood of uncertainty, elections will also be held in the Netherlands in March, Germany in September and possibly Italy. Traders also eyed political risk elements in the US, with President Donald Trump’s administration on the back foot over its immigration and other policies.

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MCX Gold News Update

As per MCX www.crudeoperator.com intraday research Mumbai base company report for :

 Gold hold ground at three-month high

Gold futures gained modestly on Tuesday, a day after settling at a nearly three-month closing high, buoyed by geopolitical uncertainty surrounding President Donald Trump’s administration. A decision in federal court over Trump’s executive order on immigration will have a big impact on gold and U.S. dollar. Demand for safe-haven assets, such as gold, could zoom. Year to date, gold has gained more than 7%, while the U.S. Dollar Index has lost around 1.8% so far this year. But on Tuesday, the dollar index climbed by about 0.5%, helped higher by hawkish comments from the Federal Reserve’s Patrick Harker, who emphasized a March rate hike is possible. Because gold is priced in dollars, it often moves inversely to moves in the greenback. A pause for what had been climbing market interest rates has also been a factor. Lower yields make it less attractive to invest in assets that offer interest, sending more investors to precious metals, which don’t bear interest. The dovish rhetoric from Mr. Trump would keep the pressure on the dollar, which will help gold to regain its mojo. Moreover, French and German elections are going to produce a lot of tailwinds for the gold rally.


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MCX GOLD UPDATE

Gold climbed on Monday to its highest in nearly three months as worries about the political landscape in the United States and Europe and a subdued dollar reinforced investor interest. Political uncertainty in the United States has been fuelled by President Donald Trump’s policies, the most controversial of which is a temporary ban on immigrants from seven mostly Muslim countries. A U.S. judge put a nationwide block on Trump’s order on Friday. Elections in the Netherlands, France and Germany this year are also adding to jitters. The initial euphoria of the Trump presidency seems to be fading and the elections in Europe are making people nervous. Since the start of the year we’ve seen the dollar consistently weaker, but physical demand from (top consumers) China and India is still weak and a negative for gold. China’s net gold imports in December, at 51.51 tonnes, were down 60 percent from December 2015. Meanwhile, gold demand in India fell 21.2 percent in 2016 from the previous year to 675.5 tonnes as new rules such as those forcing customers to disclose their tax codes for purchases above 200,000 rupees ($2,967) dampened demand. Geopolitical concerns will now be magnified by the Trump administration’s more aggressive tone in the foreign policy arena and trade will also remain a key flash point.

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MCX Gold News Update

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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MCX Gold News Update

As per MCX www.crudeoperator.com 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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MCX Gold News Update

As per MCX www.crudeoperator.com intraday research Mumbai base company report for : Gold international edged up on Thursday, as the dollar weakened after the U.S. Federal Reserve kept interest rates unchanged at its first meeting since President Donald Trump’s inauguration. The Fed kept interest rates unchanged on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the U.S. economy that suggested it was on track to tighten monetary policy this year. The yellow metal gained more than 5 percent in January – its best month since June 2016 – as the dollar suffered its worst start to the year in three decades. Meanwhile, investors also turned their attention to a quarterly report from the Bank of England on Thursday. The BoE was expected to avoid adding to speculation about a first interest rate hike in nearly a decade, even as it acknowledges the resilience of Britain’s economy since last year’s Brexit vote shock.


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MCX Gold News Update

As per MCX www.crudeoperator.com intraday research Mumbai base company report for : mcx gold held firm on wenesday after hitting a one week high in the previous session , as trader awaited a decision on interest rate by the U.S.Fedral reserv, which is repected to keep policy on hold.

The U.S.Federal Reserve Is expected to keep interest rates unchanged to wednesday in its first policy decision since president donald trump took office , as the central bank awaits greater clarity on his economic policies.


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MCX Gold News Update

AS Per our crude operator research mumbai : MCX GOLD prices hit highest in about a week on yesterday , buoyed by self-haven demand after american president trump rattled global market with his tough stance on immigration.

A weaker USA doller also support bullion, while traders were turning their attention to a two -day meeting of the american federal reserve starting later in the day for clues on the outlook for U.S> Interest rates.


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MCX Gold News Update

AS Per our crude operator research mumbai : MCX GOLD prices crawled higher on Monday on a weaker dollar and as uncertainty over U.S. Policy under president Donald Trump Stoked safe haven demand, although gains were curbed with many in asia on holiday for the lunar New Year

Trump’s administration on Sunday tempered a key element of his move to ban entry of refugees and people form seven muslim-majority countries in the face of mounting criticism and protests in major American cities.


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MCX Gold News Update

AS PER MCX CRUDE OIL OPERATOR GOLD UPDATE :

The Prices of MCX Refined MCX GOld was trading at Rs. 28350 down 0.12%,. THe Gold Prices tested a high at Rs. 28380, and a low of Rs. 28080 per gram.

Redined mcx gold will be facing resistance support at Rs. 28510 will support are at Rs. 28010 Future declines that look probable from here can take mcx gold towards Rs 28010 and 27510 as per grams.


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