September 21, 2017

MTECHTIPS:-Gold / Silver / Copper futures – weekly outlook: February 6 – 10

MTECHTIPS- Gold ended slightly higher on Friday, after the latest U.S. jobs report showing weak wage growth last month dampened expectations for a faster rate of interest rate hikes this year. Gold for April delivery settled up 0.2% at $1,221.85 on the Comex division of the New York Mercantile Exchange. The Labor Department said the U.S. economy added 227,000 jobs in January from the prior month, while the unemployment rate ticked up to 4.8% from 4.7% in December, as more Americans joined the workforce. But average hourly earnings rose 2.5% in January from a year earlier, slowing from 2.8% in December. The slowdown in wage growth prompted speculation that the Fed will avoid hiking interest rates too quickly. In its latest monetary policy statement on Wednesday the Fed stuck to its view that the economy is strengthening, but gave no clear signal on the timing of its next rate hike as officials wait to assess the possible economic impact of the Trump administration’s protectionist policies and recent remarks about currencies. The precious metal was 2.14% higher for the week, as the dollar remained under pressure amid concerns over Donald Trump’s presidential style and a lack of clarity on rate hikes. Both a strong dollar and higher interest rates are typically bearish for gold, which is denominated in dollars and struggles to compete with yield-bearing assets when borrowing costs rise

WWW.MTECHTIPS.COM
07489294118-119

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.