MTECHTIPS;-Gold swings between gains and losses; traders await FOMC minutes

Document Sample
MTECHTIPS;-Gold swings between gains and losses; traders await FOMC minutes Powered By Docstoc
					MTECHTIPS


    Gold swings between gains and losses;
        traders await FOMC minutes




   Gold prices in the global market were seen trading
  between gains and losses on Wednesday before the
 release of Open Market Committee (FOMC) Meeting
minutes scheduled to be released at 11.30 PM IST. From
   FOMC minutes released, bullion traders may try to
gather clues whether US Federal Reserve may roll back
    its monetary stimulus later this year or not. Gold
 futures for December delivery on Globex platform of
 Comex was seen trading up by 0.02% at $1368.50 per
 troy ounce as of 10.05 AM IST on Wednesday. National
Association of Realtors is expected to release its data on
  the United States existing home sales at 07.30 PM IST
   today. Gold prices were seen supported by physical
demand, rise in gold holdings at Exchange Traded Funds
   (ETFs) and recent weakness in US Dollar. Upcoming
     festive season demand from India is expected to
  support the commodity prices to certain extent in the
 global market. Gold holdings at the SPDR Trust rose to
914.12 tons on Tuesday. Gold volumes at Shanghai Gold
Exchange increased to 10,926 kilograms on Tuesday, the
highest since August, as per the Exchange data released.
                WWW.MTECHTIPS.COM
                   07489294118-119

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:0
posted:8/21/2013
language:
pages:2
Description: MTECHTIPS;-Gold swings between gains and losses; traders await FOMC minutes Gold prices in the global market were seen trading between gains and losses on Wednesday before the release of Open Market Committee (FOMC) Meeting minutes scheduled to be released at 11.30 PM IST. From FOMC minutes released, bullion traders may try to gather clues whether US Federal Reserve may roll back its monetary stimulus later this year or not.Gold futures for December delivery on Globex platform of Comex was seen trading up by 0.02% at $1368.50 per troy ounce as of 10.05 AM IST on Wednesday.National Association of Realtors is expected to release its data on the United States existing home sales at 07.30 PM IST today.Gold prices were seen supported by physical demand, rise in gold holdings at Exchange Traded Funds (ETFs) and recent weakness in US Dollar. Upcoming festive season demand from India is expected to support the commodity prices to certain extent in the global market.Gold holdings at the SPDR Trust rose to 914.12 tons on Tuesday.Gold volumes at Shanghai Gold Exchange increased to 10,926 kilograms on Tuesday, the highest since August, as per the Exchange data released. WWW.MTECHTIPS.COM 07489294118-119