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Tuesday, 29 November 2016

Gold Updates with Profitable Trading Calls

Gold rose on Monday, recovering from 9-1/2 month lows, as the U.S. dollar extended losses after touching a near 14-year high a week ago.

The Dollar Index was down on Monday after slipping 0.2 percent in the past session as U.S. Treasury yields eased from recent peaks.

Meanwhile, gold prices were also supported amid supply worries in China after a directive from the People's Bank of China to limit gold imports, kept premiums in Shanghai around $22, driven by buoyant demand.

Gold premiums in top consumer China jumped to the highest in nearly three years a week ago on supply worries. We offer MCX Free Tips on mobile with accuracy by specialists after the entire analysis of market trends and levels.

SPDR Gold Trust said its holdings fell 0.73% to 885.04 MT on Friday.

Hedge funds and money managers again cut their net long positions in COMEX gold and silver contracts in the week to Nov. 22, U.S. Commodity Futures Trading Commission data showed.

Indian bullion prices rose on Monday, following firm overseas prices. A weak Rupee additionally supported upside movement in bullion prices.

The gold/silver ratio, which measures the number of silver ounces needed to buy an ounce of gold remained flat on Tuesday morning. The gold/silver ratio was trading at 71.72 ounces compared with 71.76 ounces on Monday.

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1 comment:

  1. Gold prices recovered some of its losses from lows as speculators took profits amid a weaker dollar
    stock market tips


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