We have a brand new contest on TopGoldForum with $30 cash prizes. Enroll now and win
GOLD - Gold prices turned lower on Friday as the dollar regained ground after the U.S. Senate approved a budget plan for the 2018 fiscal year that will ease passage for Republicans to pursue a tax-cut package without Democratic support. The Republican-controlled Senate voted for the budget measure late on Thursday by 51-to-49, which would add up to $1.5 trillion to the federal deficit over the next decade in order to pay for proposed tax cuts. The U.S. Federal Reserve is widely expected to raise its benchmark interest rate for the third time this year in December. Higher rates tend to boost the dollar, putting pressure on the greenback-denominated gold. Meanwhile, a report that Trump was leaning toward Fed Governor Jerome Powell, who is perceived as a less hawkish candidate, as the next Fed chair had weighed on the dollar earlier in the session and lent some support to gold prices. Trump concluded interviews with the five candidates, including current chief Janet Yellen, he is considering to chair the Fed and could announce a decision as early as next week. Elsewhere, the European Central Bank will say on Oct. 26 it will start trimming its monthly asset purchases to 40 billion euros from 60 billion euros in January, a Reuters poll found. CRUDE OIL-Oil prices edged up on Friday, supported by signs of tightening supply and demand fundamentals, although a warning about excessive China economic optimism still weighed somewhat on markets. The stable prices came after a more than 1 percent fall in prices the previous day. This was put down to profit-taking following four days of straight gains, but also to a sudden market slump which spooked traders after the veteran but outgoing governor of China's central bank warned of a “Minsky moment", a reference to excessive optimism about economic growth fuelled by vast debt and speculative investment. US commercial crude oil stocks have dropped 15 percent from their March records to 456.5 million barrels, below levels seen last year. Part of this drawdown has been due to rising exports as a result of the steep discount of WTI crude to Brent, which makes it attractive for American producers to export their oil. Additionally, crude futures price curves are in backwardation, which makes it attractive to sell produced oil immediately rather than store it for later dispatch. US commercial crude oil stocks have dropped 15 percent from their March records to 456.5 million barrels, below levels seen last year. COPPER - London copper nudged higher on Friday as some investors beefed up positions following overnight losses, and remained on track to post its fourth weekly rise even after retreating from three-year highs. Copper at the start of the week rallied above $7,000 a tonne for the first time since September 2014. Traders said the slight pullback in price overnight was in reaction to Thursday’s data showing economic growth in China, the world’s biggest metals consumer, was in line was expectations. While some interpreted the data as supportive of Chinese industrial activity, ANZ Bank noted investors in the sector remained cautious. State-owned China metals firm Jiangxi Copper Co Ltd plans to make an acquisition in mineral-rich Africa, president and chairman Long Zhiping said, as the country’s top integrated copper producer aims to step up overseas expansion. Stocks declined a net 3,625 tonnes to 287,625 tonnes. 8,200 tonnes of copper was freshly canceled with the majority in New Orleans. CapitalStars Award Winning, SEBI registered, ISO certified investment advisory company. We provide intraday & positional services in Equity , derivative ,commodity & currency. Our research is highly skilled & experienced. Commodity tips stock market tips Free Commodity Tips Share Tips Expert Share Tips Nifty Futures Tips Capitalstars capitalstars payment capitalstars Services For More details Visit here: www.capitalstars.com Click Here:-> http://capitalstars.com/free-trial Fill Up The Form For Getting FREE Trial...!!! Join Now!!!!
Geet Khare posted a topic in ServicesGold fell by Rs 50 to Rs 30,850 per 10 gram at the bullion market today on weak cues from overseas markets and fall in demand from local jewellers at domestic spot market. Silver followed suit and eased by Rs 200 to Rs 41,400 per kg due to reduced offtake by industrial units and coin makers. Traders said a weak trend overseas, shrugging off North Korea's latest missile launch over Japan with strong US inflation data raising hopes of another interest rate hike...!!! CapitalStars Financial Research Private Limited providing equity ,Commodity & forex trading calls with free trial .Our company also provide Profitable trading tips with trials in all Indian Mcx commodity market. Our Some Best Services Read it Here Free Commodity Tips Share Tips Expert Share Tips Commodity tips stock market tips Nifty Futures Tips CapitalStars Certifications