1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Gold may trade sideways

Discussion in 'Stock Market News & Analysis' started by Capitalstars King, Oct 27, 2015.

  1. Capitalstars King

    Capitalstars King New Member

    Sep 11, 2015
    Likes Received:
    Vijay Nagar, INDORE – 452010 M. P. India
    Gold can move in range of 26700-27000. Investors will be watching for clues on the Fed's take on the global economy.

    Bullion counter may continue to trade sideways with some short covering can be seen at current levels. Meanwhile movement of rupee can affect the prices in MCX.

    Gold can move in range of 26700-27000, according to SMC Global. Gold for December delivery has been trading up 0.15 per cent to 26850 level on Monday(10.27 am).

    Investors initially bet the U.S. central bank would be compelled to delay raising rates given the fragility of the global economy, but buying soon evaporated on the view that the Chinese stimulus and upbeat U.S. data made a Fed rate hike more likely this year.

    The Fed holds a policy meeting later this week. Though it is not expected to hike rates at this week's meeting, investors will be watching for clues on the Fed's take on the global economy and whether the central bank would raise rates at its December meeting.

    SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.26 percent to 695.54 tonnes on Friday.
    Read more at:
    Our Some Other Tips & Services, Get it Soon !!

    www.capitalstars.com | T:+91-731-6790000,6669900
    CapitalStars FinancialResearchFinancial Advisory Services


Share This Page