September 22, 2017

MTECHTIPS:-Gold gains slightly in Asia, RBA makes a bold call

MTECHTIPS;-Gold prices inched up in Asia on Tuesday with risk sentiment dominating though Australia’s central bank sent a clear signal it sees an end to global monetary easing for now. Gold for April delivery on the Comex division of the New York Mercantile Exchange rose 0.17% to $1,234.25 a troy ounce. Also on the Comex, silver futures for March delivery inched up 0.02% to $17.697 a troy ounce, while copper slipped 0.38% to $2.641 a pound. “There is no longer an expectation of further monetary easing in other major economies,” the RBA statement on Tuesday annoucing rates on hold at a record low 1.5% said. “The board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.” Overnight, gold prices added to overnight gains in North American morning trade on Monday, hitting the strongest level since November as investors sought the perceived safety of the yellow metal amid growing concerns over political risks around the globe. Prices of the yellow metal climbed 2.4% last week, its best weekly gain in seven months. Investors continued to pile in to gold as they eyed political risk elements, with President Donald Trump’s administration on the back foot over its immigration and other policies. In the euro zone, traders are monitoring developments in countries where anti-establishment movements are gaining traction ahead of elections.

WWW.MTECHTIPS.COM

0748929418-119

mtech_tips1

Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.