Yellow metal loses sheen post strong US jobs data
08/08/2016 12:41
Gold futures were trading lower during the noon trade in the domestic market on Monday as participants trimmed their bets in the precious metal after fears that strong US July jobs data which could increase the possibility of the US Fed’s interest rate hike.
Non-farm payrolls in the US climbed 255,000 in July, following a revised 292,000 gain in June, against an estimated 180,000 additions.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,094 per 10 grams, down by 0.43 per cent, after opening at Rs 31,202, against a previous close of Rs 31,228. It touched the intra-day low of Rs 31,069 (at 12:33 hours).
08/08/2016 12:41
Gold futures were trading lower during the noon trade in the domestic market on Monday as participants trimmed their bets in the precious metal after fears that strong US July jobs data which could increase the possibility of the US Fed’s interest rate hike.
Non-farm payrolls in the US climbed 255,000 in July, following a revised 292,000 gain in June, against an estimated 180,000 additions.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,094 per 10 grams, down by 0.43 per cent, after opening at Rs 31,202, against a previous close of Rs 31,228. It touched the intra-day low of Rs 31,069 (at 12:33 hours).
