Gold prices dropped to five-month lows in recent sessions after a string of solid factory and other reports fanned expectations for the Federal Reserve to soon begin tapering its monthly bond purchases, which have elevated the yellow metal for over a year by keeping the greenback weak.
10.31 PM Dec 5th
Meanwhile, investors were eyeing the release of a U.S. economic growth data later Thursday as well as a jobs report on Friday, after a string of positive data over the week added to expectations the Federal Reserve will soon begin tapering its montly asset purchases.
6.43 PM Dec 5th
In the evening session, we expect precious metals and base metals to trade on a mixed note on the back of concerns regarding QE tapering by the Federal Reserve ahead of estimates of favourable GDP data from the US. However, weakness in the DX will cushion sharp downside movement in the prices.
6.38 PM Dec 5th
Follow moneycontrol.comFacebook Twitter Google Plus RSS Wap SMS SMS Alert iPad iPhone Blackberry OVI Android Window
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.