Gold silver price trade steady after inching lower in the previous session, as the dollar and Treasury yields pulled back slightly after U.S. FOMC minutes hinted policymakers may be less aggressive on future rate hikes.
In their July meeting minutes, Fed officials mentioned that the pace of rate hikes in future policy meetings will now depend on incoming economic data points, as well as assessments of how the economy was adapting to the higher rates already approved. After the release of the minutes, market participants are discounting a 50bps rate hike in the September meeting. CFTC position as of last week did see a strong rebound although, ETF flows are affecting overall sentiment. Broader trend on COMEX could be in the range of $1750-$1785 and on domestic front prices could hover in the range of Rs 51,050—51,150.
Gold prices in India were trading in the positive territory on Thursday, following the release of the US Fed minutes. On the Multi Commodity Exchange, gold October futures were up Rs 135 or 0.3 per cent to Rs 51,678 per 10 gram, as against the previous close of Rs 51,543. Silver September futures were ruling at Rs 56,751 per kg, down Rs 164 or 0.3 per cent. Globally, yellow metal prices rose on Thursday, as the dollar and Treasury yields pulled back slightly after U.S. Federal Reserve minutes hinted policymakers may be less aggressive on future rate hikes, according to Reuters. Spot gold was up 0.3% at $1,763 per ounce, after falling to a two-week low of $1,752 in the previous session. U.S. gold futures gained 0.2% to $1,780 per ounce.
सारे ट्रेड में आपको लोस ही हो रहा है??
तो ज्वाइन करिए आज ही हमारा ग्रुप फ्री में लगातार प्रॉफिट के लिए जल्दी करिए.
लिंक नीचे दिया गया है
EQUITY MARKET 👇👇👇
https://t.me/banknifty_nifty_NealBhai_Tips
MCX LINK 👇👇👇
https://t.me/Neal_Bhai_MCX_Tips
Technical Power of CFA’s
(CHARTERED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
