Mcx Tips Watch Live Market; Gold set for third weekly drop

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Gold eased on Friday was likely to finish lower for a third week in four, as a resilient dollar and strong U.S. economic data undercut bullion's appeal as a hedge. Spot gold shed 0.3 percent to $1,158.32 an ounce by 0329 GMT and is down 1.5 percent for the week. It has failed to recover strongly from a 4-1/2-year low of $1,131.85 hit last week, on steady outflows from gold-backed funds.
The dollar rose to a fresh seven-year high against the yen on Friday, bolstered by rising Japanese equities amid speculation that Japan's leader would call an election and delay a sales tax hike. The greenback was holding close to a four-year high against a basket of major currencies.The bearishness in bullion's outlook was reflected in holdings of SPDR Gold Trust, the world's top gold-backed exchange-traded fund.
Oil prices fell about 3 percent on Thursday to four-year lows after government data showed US crude stockpiles surged at the delivery point for crude futures. The declines compounded losses from Wednesday after comments by the Saudi oil minister raised fears the world's top oil exporter will not agree to output cuts at the Organization of the Petroleum Exporting Countries' meeting on November 27.

Get Mcx Tips with Commodity Market updates; Gold holds gains

Money CapitalHeight is an ISO 9001-2011 Registered Company. Company have a highly qualified and experienced analysts, who deliver their expertise in providing Mcx bullion Tips for traders. All services are provided through SMS and Instant Messenger. Take a Free Trial of our MCX Bullion Tips and Commodity Tips and gain sustainable profits in MCX and Commodity Market. For 2 Days Free Trial, please visit our site at www.capitalheight.com/bullion-premium.php  or Call at 0731-6615050.
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Gold held overnight gains on Wednesday, but could struggle to sustain rallies with the U.S. dollar close to four-year highs and outflows from bullion funds showing no signs of abating. Holdings in SPDR Gold Trust, the world's top gold-backed exchange-traded fund, fell 0.12 percent to 724.46 tonnes on Tuesday - a fresh six-year low.
Gold is extremely sensitive to dollar-yen moves now and it should return to the downtrend soon." Spot gold was little changed at $1,164.20 an ounce by 0334 GMT, after gaining 1.2 percent on Tuesday from a softer dollar. Bullion is seen as an alternative investment to riskier assets such as equities during economic uncertainties. But optimism over the U.S. economic recovery has boosted stocks and the dollar.
Crude futures edged lower on Tuesday amid perceptions that the dollar remains on a long-term strengthening trend due to expectations for U.S. monetary policy to tighten while Europe and Japan move in the opposite direction. A stronger greenback makes oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.

Mcx Tips Live Market Updates; Gold drops as short-covering rally

MCX GOLDM December contract was trading at Rs 25943 up Rs 17, or 0.07 percent. The GOLDM rate touched an intraday high of Rs 26070 and an intraday low of Rs 25852. So far 1793 contracts have been traded. GOLDM prices have moved down Rs 1730, or 6.25 percent in the December series so far.
MCX GOLDM February contract was trading at Rs 26195 up Rs 63, or 0.24 percent. The GOLDM rate touched an intraday high of Rs 26212 and an intraday low of Rs 26165. So far 20 contracts have been traded. GOLDM prices have moved up Rs 475, or 1.85 percent in the February series so far.
Gold slipped nearly 1 per cent on Monday after a short covering rally in the previous session fuelled by a softer-than-expected US jobs report.Despite a 3 per cent jump on Friday, gold remained below a key $1,180-an-ounce level that could pressure the metal back to 4-1/2-year lows reached last week on a strong dollar and fears regarding an upcoming rate hike by the US Federal Reserve.

Money CapitalHeight is an ISO 9001-2011 Registered Company. Company have a highly qualified and experienced analysts, who deliver their expertise in providing Mcx bullion Tips for traders. All services are provided through SMS and Instant Messenger. Take a Free Trial of our MCX Bullion Tips and Commodity Tips and gain sustainable profits in MCX and Commodity Market. For 2 Days Free Trial, please visit our site at www.capitalheight.com/bullion-premium.php  or Call at 0731-6615050.

Free Mcx Trading Tips Updates; Gold poised for third weekly drop

Today Mcx Gold held close to a 4-1/2 year low and looked set to post its third straight weekly drop on Friday, as the US dollar rallied on expectations the Federal Reserve could raise rates sooner rather than later. A robust US non-farm payrolls report later in the day could provide more evidence of a strengthening economy, influencing the Fed and possibly hurting gold, a non-interest-bearing asset.
Spot gold fell as much as 0.8 percent to $1,131.85 - lowest since April 2010 - before recovering modestly to $1,133.30 by 0622 GMT. The yellow metal has fallen over 3 percent so far this week. Spot silver tumbled to $15.03 - the lowest mark reached since February 2010 - as it headed for its fourth weekly decline in a row. The sell-off in gold began a week ago when the metal broke through $1,180 - the lowest level reached during a 28-percent plunge last year.
Crude oil prices eased in Asia on Friday after OPEC cut a demand forecast for its crude and Libyan officials reportedly said they expect their biggest oil field to recover from a rebel attack and restart production soon. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded at $77.83 a barrel, down 0.19%, after hitting an overnight session low of $77.13 a barrel and off a high of $79.02 a barrel.

Money CapitalHeight is an ISO 9001-2011 Registered Company. Company have a highly qualified and experienced analysts, who deliver their expertise in providing Mcx bullion Tips for traders. All services are provided through SMS and Instant Messenger. Take a Free Trial of our MCX Bullion Tips and Commodity Tips and gain sustainable profits in MCX and Commodity Market. For 2 Days Free Trial, please visit our site at www.capitalheight.com/bullion-premium.php  or Call at 0731-6615050.