MTECHTIPS;-Gold prices trim losses but remain under pressure


MTECHTIPS;-Gold prices trim losses but remain under pressure

MTECHTIPS- Gold prices trimmed losses on Wednesday, after the release of downbeat U.S. housing sector data dampened demand for the greenback, but the precious metal remained under pressure amid an overall rise in risk-appetite. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.16% at $1,277.60, off session lows of $1,274.68. The yellow metal suffered its steepest one-day drop in nearly six weeks on Tuesday, after strong data on U.S. retail sales and manufacturing activity kept alive the chance of another rate hike by the Federal Reserve this year. Market participants were looking ahead to the Fed’s most recent policy meeting for indications on future policy moves. The Fed will release minutes of its most recent policy meeting later in the day at 2:00 PM ET (18:00 GMT). Demand for the safe-haven precious metal also continued to weaken after North Korea said on Tuesday it had delayed a decision on a plan to fire missiles at the U.S. Pacific territory of Guam while it watches U.S. actions a little longer.

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MTECHTIPS;-Gold prices trim losses but remain under pressure


MTECHTIPS;-Gold prices trim losses but remain under pressure

MTECHTIPS- Gold prices trimmed losses on Wednesday, after the release of downbeat U.S. housing sector data dampened demand for the greenback, but the precious metal remained under pressure amid an overall rise in risk-appetite. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.16% at $1,277.60, off session lows of $1,274.68. The yellow metal suffered its steepest one-day drop in nearly six weeks on Tuesday, after strong data on U.S. retail sales and manufacturing activity kept alive the chance of another rate hike by the Federal Reserve this year. Market participants were looking ahead to the Fed’s most recent policy meeting for indications on future policy moves. The Fed will release minutes of its most recent policy meeting later in the day at 2:00 PM ET (18:00 GMT). Demand for the safe-haven precious metal also continued to weaken after North Korea said on Tuesday it had delayed a decision on a plan to fire missiles at the U.S. Pacific territory of Guam while it watches U.S. actions a little longer.

MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails


MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails

 

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MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails


MTECHTIPS:-Trading Tips with MTECHTIPS Apply For 2 Days Free Trails

 

Detailed and Research-Based Trading Tips Service at mtechtips

MTECHTIPS-Advisory is a financial advisory firm having a team of specialized financial market analysts having massive experience in carrying out capital market research. We deliver reliable tips and advices for stocks, future , Index and option (F&O) traded in the NSE commodities such as bullion, agri and metals traded in the MCX and NCDEX. We offer daily and weekly reports having stock and commodity market overview that assists the investors to identify with the trends of the market and assists in taking smart decisions.

 

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

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MTECHTIPS;-Oil bounces off 3-week lows on bets for bullish U.S. supply data


MTECHTIPS;-Oil bounces off 3-week lows on bets for bullish U.S. supply data

MTECHTIPS-Oil prices edged higher on Wednesday, bouncing off their lowest levels in three weeks amid speculation weekly supply data due later in the session will show another big drop in U.S. crude inventories. The U.S. Energy Information Administration will release its official weekly oil supplies report at 10:30 AM ET (1430 GMT). Analysts expect crude oil inventories dropped by around 3.0 million barrels at the end of last week. If confirmed, it would mark a seventh weekly decline in a row. Meanwhile, gasoline supplies are seen decreasing by 1.0 million barrels and distillates are forecast to fall 572,000 barrels. After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories fell by 9.16 million barrels in the week ended August 11. The API report also showed a gain of 300,000 barrels in gasoline stocks, while distillate stocks fell by 2.1 million barrels. There are often sharp divergences between the API estimates and the official figures from EIA. The U.S.September contract was at $47.84 a barrel by 3:25 AM ET (0725 GMT), up 29 cents, or around 0.6%. It slumped to its lowest since July 25 at $47.02 a day earlier. Elsewhere, Brent oil for October delivery on the ICE Futures Exchange in London tacked on 40 cents, or about 0.8%, to $51.20 a barrel, after falling to a three-week low of $50.02 in the prior session

MTECHTIPS;-Oil bounces off 3-week lows on bets for bullish U.S. supply data


MTECHTIPS;-Oil bounces off 3-week lows on bets for bullish U.S. supply data

MTECHTIPS-Oil prices edged higher on Wednesday, bouncing off their lowest levels in three weeks amid speculation weekly supply data due later in the session will show another big drop in U.S. crude inventories. The U.S. Energy Information Administration will release its official weekly oil supplies report at 10:30 AM ET (1430 GMT). Analysts expect crude oil inventories dropped by around 3.0 million barrels at the end of last week. If confirmed, it would mark a seventh weekly decline in a row. Meanwhile, gasoline supplies are seen decreasing by 1.0 million barrels and distillates are forecast to fall 572,000 barrels. After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories fell by 9.16 million barrels in the week ended August 11. The API report also showed a gain of 300,000 barrels in gasoline stocks, while distillate stocks fell by 2.1 million barrels. There are often sharp divergences between the API estimates and the official figures from EIA. The U.S.September contract was at $47.84 a barrel by 3:25 AM ET (0725 GMT), up 29 cents, or around 0.6%. It slumped to its lowest since July 25 at $47.02 a day earlier. Elsewhere, Brent oil for October delivery on the ICE Futures Exchange in London tacked on 40 cents, or about 0.8%, to $51.20 a barrel, after falling to a three-week low of $50.02 in the prior session

MTECHTIPS;-Gold to trade negative


MTECHTIPS;-Gold to trade negative

MTECHTIPS-Gold fell nearly 1 percent, down for a second day on Tuesday after better – than – expected U.S. economic data and easing tensions over North Korea encouraged investors to buy riskier assets, boosting stocks, the U.S. dollar and bond yields. Gold, seen as a safe haven in times of uncertainty, rose to a two – month high of $1,291.86 on Friday after a week of escalating military threats between Washington and Pyongyang. But fears of conflict eased when North Korean leader Kim Jong Un on Tuesday signalled he would delay a decision on firing missiles towards Guam, a U.S. territory in the Pacific. Gold’s fall accelerated after strong U.S. retail sales in July and strength in an index of business conditions in New York state suggested strong economic growth. A strong dollar is negative for gold prices because it makes dollar – priced gold costlier for holders of other currencies, while higher bond yields raise the opportunity cost of holding non – yielding bullion. Also weighing on gold was the prospect of another increase in U.S. interest rates after an influential Federal Reserve official said on Monday he expected one more rise this year