Precious Metals
DAILY BUZZ
GOLD
Gold futures ended lower in the domestic market on Tuesday after data revealed both consumer prices and existing home sales are on the rise in the U.S., which should prompt the Federal Reserve to do away with loose monetary policies that have supported the commodity for years. Sentiment weakened further as the dollar strengthened in the midst of the outlook for higher U.S. borrowing costs, countering haven demand that was fueled by tension in Ukraine and Gaza. Stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus raising demand. Gold futures may fall today as investors will be watching as the U.S. is to release data later this week. Gold futures for August 2014 contract, at MCX, closed at Rs. 27,895 per 10 grams, down by 0.68 per cent, after opening at Rs. 28,070, against the previous closing price of Rs 28,087. It touched an intra-day low of Rs 27,812.
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DAILY BUZZ
GOLD
Gold futures ended lower in the domestic market on Tuesday after data revealed both consumer prices and existing home sales are on the rise in the U.S., which should prompt the Federal Reserve to do away with loose monetary policies that have supported the commodity for years. Sentiment weakened further as the dollar strengthened in the midst of the outlook for higher U.S. borrowing costs, countering haven demand that was fueled by tension in Ukraine and Gaza. Stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus raising demand. Gold futures may fall today as investors will be watching as the U.S. is to release data later this week. Gold futures for August 2014 contract, at MCX, closed at Rs. 27,895 per 10 grams, down by 0.68 per cent, after opening at Rs. 28,070, against the previous closing price of Rs 28,087. It touched an intra-day low of Rs 27,812.
Register yourself for free Comex Tips , Equity Tips , Free Nifty Tips, Nifty Option Tips, Stock Option Tips, Stock Options Tips, Nifty Options Tips , Share Tips , Free Ncdex Tips , Free Mcx Tips , Free Commodity Tips, Domestic Forex Tips , Nifty Options Calls , Mcx Bullion Tips , Bank Nifty Tips , Mcx Gold Tips , Mcx Crude Tips , Comex Silver Trading Tips . Click here to get free trial http://www.researchvia.com/free-trials/ or reply your no. along with your trading segment.