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| Share market tips |
Share market tips - Gold futures ended lower in the native market on yesterday as investors, speculators & observers quited positions in the precious metal tracking weakness in the overseas market as a powerfull dollar curbed the lure for the bullion as an alternative asset.
Stronger greenback has made Gold more expensive for those accumulating other currencies, thus lowering demand.
Top officials from the Fed stressed that, even as the world’s top central bank has decided to maintain status quo on monetary policy in September, interest rate tightening is still likely present year, as threat from abroad proves temporary, lowering the lure for Gold as a store of value.
Fed officials signaled that strength in the domestic economy may overshadow worries over slowing global growth, opening the door for a maiden rate lift-off since 2006, in either of the Fed’s two meetings this year, slated for October & December.
Gold may trade on a cautious note today as traders eye a flurry of US(United States) data including home prices, Richmond manufacturing gauge and Fed’s Lockhart speech.
At the MCX, October 2015 contract for Gold futures closed at Rs 26,345 per 10 gms, down by 0.47 per-cent after opening at Rs 26,487, in against with the previous closing price of Rs 26,469. It reached the intra-day low of Rs 26,290.
Stronger greenback has made Gold more expensive for those accumulating other currencies, thus lowering demand.
Top officials from the Fed stressed that, even as the world’s top central bank has decided to maintain status quo on monetary policy in September, interest rate tightening is still likely present year, as threat from abroad proves temporary, lowering the lure for Gold as a store of value.
Fed officials signaled that strength in the domestic economy may overshadow worries over slowing global growth, opening the door for a maiden rate lift-off since 2006, in either of the Fed’s two meetings this year, slated for October & December.
Gold may trade on a cautious note today as traders eye a flurry of US(United States) data including home prices, Richmond manufacturing gauge and Fed’s Lockhart speech.
At the MCX, October 2015 contract for Gold futures closed at Rs 26,345 per 10 gms, down by 0.47 per-cent after opening at Rs 26,487, in against with the previous closing price of Rs 26,469. It reached the intra-day low of Rs 26,290.
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