Free MCX Tips: Gold futures ended lower in the national market on Thursday as investors and speculators exited positions in the industrial metal after a top member of the US Federal Reserve called on policymakers to undertake an interest rate hike, for the first time in almost a decade, sometime later in 2015, dimming the lure for Gold as a store of value.
The risks to the world’s largest economy from the domestic rout haven’t worsened and domestic conditions remained strong, urging the case for policy tightening this year Said by Federal Reserve Bank of San Francisco President John Williams
Gold, being a non-interest bearing asset, tends to lose sheen through a rising interest rate scenario.
Gold futures may rebound today as tepid US jobs data for September pushed back bets of a hike in interest rates by the US Federal Reserve, bolstering the lure for the gold as a store of value. American employers added fewer than expected jobs in September while wages grinned to a halt and factory orders fell in August, a sign that the global financial rout has reached the shores of the US economy, prompting the case for the Fed to delay tightening policy until next year.
At the MCX, bullion futures for October 2015 contract closed at Rs per 25,773 10 gram, down by 0.32 per cent after opening at Rs 25,827, against the last closing price of Rs 25,856. It touched the intra-day low of Rs 25,711.
The risks to the world’s largest economy from the domestic rout haven’t worsened and domestic conditions remained strong, urging the case for policy tightening this year Said by Federal Reserve Bank of San Francisco President John Williams
Gold, being a non-interest bearing asset, tends to lose sheen through a rising interest rate scenario.
Gold futures may rebound today as tepid US jobs data for September pushed back bets of a hike in interest rates by the US Federal Reserve, bolstering the lure for the gold as a store of value. American employers added fewer than expected jobs in September while wages grinned to a halt and factory orders fell in August, a sign that the global financial rout has reached the shores of the US economy, prompting the case for the Fed to delay tightening policy until next year.
At the MCX, bullion futures for October 2015 contract closed at Rs per 25,773 10 gram, down by 0.32 per cent after opening at Rs 25,827, against the last closing price of Rs 25,856. It touched the intra-day low of Rs 25,711.
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