Latest News
-
Rupee Falls To Record Low Against US Dollar As Israel Strikes Iran -
Adani Ports: Why Adani Group's Cash-Cow Stock Falls Amid Israel-Iran Conflict? Explained! -
Iran-Israel War: How It Impacts Nifty, Sensex And Indian Rupee -
Rs 5/Share Dividend: Record Date In Due Course; Buy The Capital Goods Stock? -
Stocks To Buy: 2 Trade Calls By Chandan Taparia of Motilal Oswal On Friday, 19 April -
New Rules Mandate Aadhaar For Small Savings Schemes -
Trade Setup: Nifty Slides Below 22,000 Mark; Global Markets Plunge On Reports Of Explosions In Iran -
JNK India IPO To Open On 23rd April: Check Price Band, Issue Size & More Details Here -
Banks Close As India Votes: Lok Sabha Elections Phase 1 -
Trade Call: 2 Technical Intraday Stock Picks By Sumeet Bagadia On Friday, April 19
Gold Lower As US Jobs Data Points At A Rate Hike
International gold on Monday was seen trading near 1-week low on strong US jobs data boosting the prospects of a rate hike by the US Federal Reserve. Many analysts and Wall Street banks expect the Federal Reserve to raise interest rates in 2016 after a strong US jobs data in July.
The US Jobs data showed an addition of 255,000 jobs in the US for July 2016, as against expectations of just 180,000.
On Friday, spot gold fell to one week low of $1,334.75 after the US jobs data release. International spot gold was seen trading at $1,331 an ounce.
Gold sentiment was weighed on anticipation of interest rate hike from the central bank which can negatively impact gold.
Strengthening of dollar and a rise in equities dimmed the appeal of the precious metal as an alternative asset.
At the Multi Commodity Exchange, gold for delivery in October eased to Rs 31,030 per 10 gram, lower by Rs 198. The metal for delivery in far-month December was trading at Rs 31,320, lower by Rs 202 or 0.64 per cent per 10 gram.
Goodreturns.in
