Today in Mcx Gold and silver futures edged lower on
Tuesday, as investors looked ahead to key U.S. economic data later in the day
for further indications on the strength of the economy and the future course of
monetary policy.Gold for August delivery fell to a session low
of $1,305.20 a troy ounce, the weakest level since July 18, before trimming
losses to last trade at $1,308.30.
The U.S. was to release reports on consumer price inflation and existing home sales later in the session, amid ongoing speculation over when the Federal Reserve may start to raise interest rates.Precious metals witnessed a volatile trading week as geo-political events took centre stage yet again which led to sudden spurt in gold prices after it fell more than 3% at the beginning of the week.
Crude oil prices jumped last in line with the jump in precious metals as the risk premium in oil increased once again after the Malaysian airline crash. Crude oil managed to register a weekly gain after a month as physical fundamentals had stated to weigh on prices in the weeks prior to this after Libya resumed some of its supply.
The U.S. was to release reports on consumer price inflation and existing home sales later in the session, amid ongoing speculation over when the Federal Reserve may start to raise interest rates.Precious metals witnessed a volatile trading week as geo-political events took centre stage yet again which led to sudden spurt in gold prices after it fell more than 3% at the beginning of the week.
Crude oil prices jumped last in line with the jump in precious metals as the risk premium in oil increased once again after the Malaysian airline crash. Crude oil managed to register a weekly gain after a month as physical fundamentals had stated to weigh on prices in the weeks prior to this after Libya resumed some of its supply.
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