Tag: Yellow metal

Yellow metal climbs on firm global trend

Yellow metal climbs on firm global trend

04/09/2017 13:23

Gold futures were trading in the red in the domestic market on Monday as after speculators raised their bets, tracking a firm global trend.

Analysts attributed the rise in gold prices at the futures trade here to a firm trend overseas where it hit 10-month high on escalating geopolitical tensions after North Korea’s latest nuclear test drove investors towards safe-haven assets.

At the MCX, gold futures for October 2017 contract was at Rs 30214 per 10 grams, up by 1.31 per cent, after opening at Rs 30011 against a previous close of Rs 29823. It touched the intra-day high of Rs 30267 (13:22 hours).

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Yellow metal up on rising demand

Yellow metal up on rising demand

02/08/2017 13:40

Gold futures were trading in the green in the domestic market on Wednesday on account of buying in precious metal by jewellers, retailers and investors.

Analysts said that the gold prices are expected to trade range bound for the day, as downbeat US data weakened the prospect of the Federal Reserve pursuing an aggressive rate hike stance.

At the MCX, gold futures for August 2017 contract is trading at Rs 28430 per 10 grams, up by 0.09 per cent, after opening at Rs 28420, against a previous close of Rs 28404. It touched the intra-day high of Rs 28509 (at 13:38 hours).

Yellow metal shines as dollar, US Treasury yields weaken

Yellow metal shines as dollar, US Treasury yields weaken

22/06/2017 14:17

Gold futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal after rising safe-haven demand on the back of easing greenback and weakness in US Treasury yields.

The US Treasury yield curve flattened to almost 10-year lows on Wednesday as investors evaluated the impact of hawkish Federal Reserve policy on the economy even as inflation measures are deteriorating.

At the MCX, gold futures for August 2017 contract is trading at Rs 28680 per 10 grams, up by 0.36 per cent, after opening at Rs 28645, against a previous close of Rs 28577. It touched the intra-day high of Rs 28716 (at 14:06 hours).

Yellow metal little changed on global cues

Yellow metal little changed on global cues

29/05/2017 14:16

Gold futures were little changed during afternoon trade in the domestic market on Monday as investors and speculators remained on the sidelines in the precious metal as safe-haven demand faded after report of a North Korean missile test fizzed out.

Meanwhile, yellow metal held a narrow range on Monday as Chinese markets are closed on Monday and Tuesday for the Dragon Boat festival.

At the MCX, gold futures for June 2017 contract is trading at Rs 28,868 per 10 grams, down by 0.07 per cent, after opening at Rs 28,870, against a previous close of Rs 28,888. It touched the intra-day low of Rs 28,832 (at 14:08 hours).

Yellow metal shines on weak US data, N Korea concerns

Yellow metal shines on weak US data, N Korea concerns

15/05/2017 13:53

Gold futures were trading higher during afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the precious metal on rising safe-haven demand after weakness in the greenback on the back of weaker-than-expected economic data from the US and a missile test conducted by North Korea on Sunday.

North Korea said on Monday it had successfully conducted a newly developed mid-to-long range missile test on Sunday, supervised by leader Kim Jong Un and aimed at verifying the capability to carry a “large scale heavy nuclear warhead.”

At the MCX, gold futures for June 2017 contract is trading at Rs 28047 per 10 grams, up by 0.15 per cent, after opening at Rs 28024, against a previous close of Rs 28005. It touched the intra-day high of Rs 28078 (at 13:40 hours).

Yellow metal in reverse gear

18/04/2017 13:03

Gold futures were trading lower during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal as investors braced for riskier assets after dollar bounced back from a 5-month low after the US Treasury Secretary’s comments supported a stronger currency.

Although, escalating tensions over North Korea, restricted further fall in prices of yellow metal.

At the MCX, gold futures for June 2017 contract is trading at Rs 29315 per 10 grams, down by 0.39 per cent, after opening at Rs 29401, against a previous close of Rs 29430. It touched the intra-day low of Rs 29278 (at 12:53 hours).

Yellow metal little changed on stronger dollar

Yellow metal little changed on stronger dollar

30/03/2017 14:10

Gold futures were little changed during afternoon trade in the domestic market on Thursday as investors and speculators exited their positions in the precious metal weighed down by diminishing safe-haven demand on stronger US dollar.

However, uncertainty due to the impact of Britain’s departure from the European Union and upcoming French elections, restricted further slide in prices of gold at futures trade.

At the MCX, gold futures for April 2017 contract is trading at Rs 28677 per 10 grams, down by 0.09 per cent, after opening at Rs 28695, against a previous close of Rs 28703. It touched the intra-day low of Rs 28668 (at 14:07 hours).

Yellow metal loses shine on Fed rate hike expectations

Yellow metal loses shine on Fed rate hike expectations

07/03/2017 13:02

Gold futures were trading lower during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal on muted safe-haven demand on hopes of a US Fed interest rate hike in March and ahead of the key economic data due later in the week.

The US monthly jobs report due to be released on Friday. Also, investors are expecting that the US Federal Reserve will raise interest rates at its upcoming policy meeting on March 14-15.

At the MCX, gold futures for April 2017 contract is trading at Rs 28910 per 10 grams, down by 0.12 per cent, after opening at Rs 28941, against a previous close of Rs 28945. It touched the intra-day low of Rs 28899 (at 12:58 hours).

Yellow metal in reverse gear on global cues

Yellow metal in reverse gear on global cues

20/02/2017 14:13

Gold futures were trading lower during afternoon trade in the domestic market on Monday as investors and speculators exited their positions in the precious metal as safe-haven demand faded on rise in the US dollar against a basket of other currencies.

The greenback rose ahead of a clutch of speeches from US Fed officials this week for clues on the timing of possible interest rate hikes. At least 5 Federal Reserve officials are due to speak, while Fed Board Governor Jerome Powell appears on Wednesday.

Meanwhile, Cleveland Fed chief Loretta Mester said on Monday that she would be comfortable raising interest rates at this point if the economy kept performing the way it did.

At the MCX, gold futures for April 2017 contract is trading at Rs 29,240 per 10 grams, down by 0.41 per cent, after opening at Rs 29251, against a previous close of Rs 29360. It touched the intra-day low of Rs 29195 (at 14:05 hours).

Yellow metal pares gains on Yellen’s testimony

Yellow metal pares gains on Yellen’s testimony

15/02/2017 14:09

Gold futures were trading marginally higher during afternoon trade in the domestic market on Wednesday as investors and speculators weighed on firm US dollar after US Fed Chair Janet Yellen said that the central bank will likely need to raise interest rates at an upcoming meeting with the economy expanding further.

Yellen struck a more hawkish tone than investors had expected, although she did flag considerable uncertainty over economic policy under the new administration.

At the MCX, gold futures for April 2017 contract is trading at Rs 29,030 per 10 grams, up by 0.10 per cent, after opening at Rs 29063, against a previous close of Rs 29001. It touched the intra-day high of Rs 29063 (at 14:01 hours).