MCX GOLD NEWS : 15.09.2016
Gold trading range for the day is 30939-31165.
Gold remained under pressure ahead of a closely-watched U.S. retail sales report
Import prices in the U.S. saw a modest decrease in the month of August, the Labor
Department revealed in a report.
Markets are pricing in just a 15% chance of a rate hike at the Federal Reserve's September 20-21 meeting, according to sources.
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Gold remained under pressure ahead of a closely-watched U.S. retail sales report on Thursday, which is expected to shape the market's near-term interest rate expectations. Import prices in the U.S. saw a modest decrease
in the month of August, the Labor Department revealed in a report. The report also showed a notable decline in export prices during the month. The report said import prices dipped by 0.2 percent in August after inching up
by 0.1 percent in July. With the decrease in August, import prices moved lower for the first time since a 0.5 percent decline in February. Boston Fed President Eric Rosengren said that the U.S. economy has proven to be
more resilient to exogenous risks and that "gradual tightening is likely to be appropriate." The comments sparked fresh speculation over a potential rate hike in the near future. Boston Fed President Eric Rosengren said that
the U.S. economy has proven to be more resilient to exogenous risks and that "gradual tightening is likely to be appropriate." The Commerce Department will publish data on August retail sales on Thursday as investors
continue to speculate over the timing of future U.S. interest rate increases. Markets are pricing in just a 15% chance of a rate hike at the Federal Reserve's September 20-21 meeting, according to sources. For December,
odds stood at around 56%.Investors also appear to have given up the idea of an imminent rise in U.S. rates as can be seen in holdings of gold in physically backed exchange-traded funds, which are down 1.7 percent at
56.27 million ounces since August 5. Technically now Gold is getting support at 30988 and below same could see a test of 30939 level, And resistance is now likely to be seen at 31101, a move above could see prices testing
31165
Gold trading range for the day is 30939-31165.
Gold remained under pressure ahead of a closely-watched U.S. retail sales report
Import prices in the U.S. saw a modest decrease in the month of August, the Labor
Department revealed in a report.
Markets are pricing in just a 15% chance of a rate hike at the Federal Reserve's September 20-21 meeting, according to sources.
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Gold remained under pressure ahead of a closely-watched U.S. retail sales report on Thursday, which is expected to shape the market's near-term interest rate expectations. Import prices in the U.S. saw a modest decrease
in the month of August, the Labor Department revealed in a report. The report also showed a notable decline in export prices during the month. The report said import prices dipped by 0.2 percent in August after inching up
by 0.1 percent in July. With the decrease in August, import prices moved lower for the first time since a 0.5 percent decline in February. Boston Fed President Eric Rosengren said that the U.S. economy has proven to be
more resilient to exogenous risks and that "gradual tightening is likely to be appropriate." The comments sparked fresh speculation over a potential rate hike in the near future. Boston Fed President Eric Rosengren said that
the U.S. economy has proven to be more resilient to exogenous risks and that "gradual tightening is likely to be appropriate." The Commerce Department will publish data on August retail sales on Thursday as investors
continue to speculate over the timing of future U.S. interest rate increases. Markets are pricing in just a 15% chance of a rate hike at the Federal Reserve's September 20-21 meeting, according to sources. For December,
odds stood at around 56%.Investors also appear to have given up the idea of an imminent rise in U.S. rates as can be seen in holdings of gold in physically backed exchange-traded funds, which are down 1.7 percent at
56.27 million ounces since August 5. Technically now Gold is getting support at 30988 and below same could see a test of 30939 level, And resistance is now likely to be seen at 31101, a move above could see prices testing
31165
