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Bullion Tips: Yellow metal plunges amid strong US jobs data

Discussion in 'Stock Market News & Analysis' started by Anik singh, Apr 4, 2016.

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  1. Anik singh

    Anik singh New Member

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    Gold futures tumbled by almost 2 per cent in the domestic market on Friday tracking weakness in the yellow metal overseas as better than expected US jobs data infused optimism over the health of the world’s biggest economy, eroding the safe haven appeal for the bullion, while keeping the door open for further tightening of interest rates by the US Federal Reserve later this year following a maiden hike in borrowing costs since 2006 in December, dimming the lure for gold as a store of value.
     
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