Free MCX Tips | Gold futures were trading in the red in the domestic market on Friday as investors and speculators stuck to a cautious stance ahead of key economic events next week including the US non-farm payrolls data which may signal further strength in the labour market of the world’s biggest economy, bolstering the case for the US Federal Reserve to raise interest rates for the first time since 2006, dimming the lure for the precious metal as a store of value.
The US economy probably added close to 200,000 jobs in November, following a 271,000 addition in October, the biggest in 2015, while the jobless rate likely held at 5 per cent, analysts’ estimates show.
All eyes are also on the European Central Bank (ECB) which next week may announce fresh stimulus including bolstering its 1.1 trillion euro bond buying program or cutting its deposit rate further.
At the MCX, Gold futures for December 2015 contract is trading at Rs 25,244 per 10 gram, down by 0.15 per cent after opening at Rs 25,244, against the previous closing price of Rs 25,281. It touched the intra-day low of Rs 25,238. (At 10:15 AM).
The US economy probably added close to 200,000 jobs in November, following a 271,000 addition in October, the biggest in 2015, while the jobless rate likely held at 5 per cent, analysts’ estimates show.
All eyes are also on the European Central Bank (ECB) which next week may announce fresh stimulus including bolstering its 1.1 trillion euro bond buying program or cutting its deposit rate further.
At the MCX, Gold futures for December 2015 contract is trading at Rs 25,244 per 10 gram, down by 0.15 per cent after opening at Rs 25,244, against the previous closing price of Rs 25,281. It touched the intra-day low of Rs 25,238. (At 10:15 AM).
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