EPIC RESEARCH MCX GOLD UPDATE OF 26 Oct 2016

Gold prices slipped on Monday as the dollar strengthened to a fresh near nine-month high on growing speculation that the U.S. Federal Reserve would hike interest rates in December.
Recent positive economic data and comments from central bank officials have bolstered expectations of a rate hike, with traders on Monday seeing a nearly 70 percent chance that the Fed would tighten credit in December, according to data from CME Group's FedWatch program.Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.However, improving physical demand from major Asian consumers and lingering uncertainty around the Nov. 8 U.S. election could lend support in coming weeks, analysts said.
Gold, regarded as a safe haven, typically rises with increased volatility and fear in global markets.
For more information and accurate MCX Tips, NCDEX Tips ✆ – 0731-6642300
Connect with our social media sites

Facebook

Twitter

YouTube

Pinterest

Linkedin

Google+