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Gold futures settled sharply lower last week, pressured by a stronger U.S. Dollar, which dampened demand for the dollar-denominated asset. A weaker Euro also indirectly drove gold prices lower. The headlines blamed stronger-than-expected U.S. manufacturing data for underpinning the dollar, but that doesn’t make sense to me since U.S. Treasury yields dropped all week until Friday’s steep rally.
Commodity News
Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Gold Prices Fall for 3 Days in a Row, Now, Down ₹5,500 in a Month
Gold prices in India fell for the third day in a row tracking muted global rates. Better-than-expected US employment data strengthened the US dollar, putting pressure on gold.
Gold Price Today: Domestic Gold Futures Finish Volatile Session
Gold Price Today : Multi Commodity Exchange (MCX) gold futures – due for settlement on October 5 – moved within a wide range, between ₹ 50,600 and Rs 50,970, compared to their previous close of ₹ 50,821, trading mostly in the negative territory. The MCX gold futures contract settled at ₹ 50,920, up 0.19 per cent – or Rs 99 – for the day.
Gold prices fell to a near one-week low
Gold prices fell to a near one-week low, as a stronger US dollar and an uptick in risk appetite following better-than-expected economic data dented demand for the safe-haven metal.
Bullion Swings Between Loss and Profit, Silver Price Gains also
Bullion Swings Between Loss and Profit, Silver Price Gains also, Gold price rally fizzled after Comex futures climbed back above $2,000 an ounce, with the dollar erasing losses and a U.S. report adding to signs of a recovery in global manufacturing.
Gold’s Rally to Give Way to Biggest Jeweler Share Sale in India – Gold Silver Reports (GSR)
Gold’s record-setting rally is set to give wings to the largest initial share sale by an Indian jeweler, helping it overcome tumbling demand in the second-biggest consuming nation.
Gold Rebounds on Weak Dollar With Investors Weighing Fed Policy
Gold climbed, recovering from Thursday’s drop, as the dollar sank with investors weighing the impact of the Federal Reserve’s new approach to setting U.S. monetary policy.