mcx tips |
Spot
gold edged 0.1 percent higher to $1,174.23 an ounce by 0715 GMT. Gold
gained nearly two percent last week, its biggest weekly rise since early
November, although it fell on Friday as Fed officials commented on data
that pointed to an improving U.S. economy. Gold edged up
slightly in a technical rebound on Monday after one-month highs hit last
week were undercut by the prospects of more interest rate hikes from
the U.S. Federal Reserve.
U.S. gold futures were up 0.1 percent at $1,174.10 per ounce.
"Some kind of rebound in gold prices is still in place," said Mark To, head of research at Hong Kong's Wing Fung Financial Group.
"However,
the impact of monetary policy changes like rising U.S. interest rates
will be felt gradually and the quick rebound in gold price should be
finished."Spot gold is up nearly 5 percent from mid-December, when it touched 10-month lows."Some kind of rebound in gold prices is still in place," said Mark To, head of research at Hong Kong's Wing Fung Financial Group.
"Seasonally, January is a very bullish month for gold," said Amit Kumar Gupta, research head at Adroit Financial Services, adding that the Chinese New Year this month is expected to increase physical buying. A slight correction in the dollar index from its recent highs also helped gold prices, he added. The dollar surged to 103.820, its highest level since December 2002 last week. Spot gold may retest a resistance at $1,182 per ounce, a break above which could open the way towards $1,219 an ounce, according to Reuters technical analyst Wang Tao.
Although U.S. employment increased less than expected in December, U.S. jobs data on Friday showed a rebound in wages, pointing to sustained labour market momentum.Chicago Federal Reserve President Charles Evans said on Friday the central bank could raise interest rates three times this year, faster than he had expected just a few months ago.
Evans and other regional Fed presidents are scheduled to speak this week, and the outlook for U.S. rates may become even clearer when Chair Janet Yellen appears at a webcast town hall meeting with educators on Thursday. "As long as the U.S. economic data is good, people are expecting rate hikes to be more hawkish and short gold at $1,200 levels," To said.
Great article thanks for sharing this kind of information. SUPER OPTION TIPS service is specially designed for the traders who want to put their money in the options market. In this service, we provide our clients 3-4 intraday calls in Stock options segment with good accuracy. In our service of Call and Put Options Tips we make very safe strategy with impeccable knowledge of our brilliant analysts. They use all their experience and logic to read, study and analyze the market using the Derivative Instruments and Techniques. They track all major Derivative Traded Instruments Including Stock Options and Nifty Options.
ReplyDeleteSTOCK CASH TIPS
STOCK FUTURE TIPS
STOCK OPTION TIPS
Alembic Pharma gets USFDA approval for Moxifloxacin Ophthalmic.
ReplyDeleteequitytips
ReplyDeleteThanks for this useful information..we are providing highly accurate "mcx tips" services. To get an free trial then click here-
mcx tips
Thanx for sharing this article.MCX Operator is the commodity service provider since 2006 satisfying lakhs of customers since 2006.It is globally expanded in 11 countries.They provide bestintraday commodity tips
ReplyDeleteYour post is give very useful information.you can get more related tips on .
ReplyDeletesebi registered advisory company