JAMES COMMODITY : Tuesday Live Gold News. Get Non Stop Targets in Gold C/W-9368536663

Gold steadied on Tuesday as the U.S. dollar stabilized after a slide in the previous session that drove greenback-priced bullion to its highest level in two weeks.

FUNDAMENTALS

* Spot gold held its ground at $1,852.84 per ounce, as of 0048 GMT, after scaling to its highest since May 9 at $1,865.29 on Monday. U.S. gold futures gained 0.3% to $1,852.40.

* The dollar steadied after dropping to a one-month low in the previous session. A weaker dollar makes bullion more attractive for overseas buyers.

* Bullion, seen as a safe store of value during times of economic crises, tends to become less attractive to investors when U.S. interest rates are raised because it yields nothing.

* Asian shares got off to a sluggish start on Tuesday after a rally on Wall Street was soured by an early slide in U.S. stock futures, while the euro was near one-month highs as odds narrowed on a July rate rise by the ECB.[MKTS/GLOB]

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.44% to 1,068.07 tonnes on Monday from 1,063.43 tonnes on Friday. [GOL/ETF]

* Spot silver dipped 0.2% at $21.72 per ounce, and platinum eased 0.3% to $956.10, while palladium edged up 0.2% to $1,996.20.

* Russia’s Nornickel on Monday cut its estimate for the global palladium market deficit in 2022 to 100,000 troy ounces due to lower demand from the car industry amid the Ukraine  ..

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Gold prices eased on Wednesday to a three-month low as an elevated dollar continued to pressure bullion while investors await monthly U.S. inflation data, which could have some impact on the Federal Reserve’s monetary policy stance.

FUNDAMENTALS

* Spot gold was down 0.3% at $1,832.06 per ounce, as of 0046 GMT. U.S. gold futures fell 0.5% to $1,832.10.

* Gold prices fell for a third consecutive session to hit their lowest level since Feb. 11.

* The dollar hovered near recent 20-year highs, making greenback-priced bullion less attractive for other currency holders.

* Market participants will be keeping a close eye on U.S. consumer price index (CPI) data for April due at 1230 GMT later in the day.

* Analysts expect the CPI to show a sharp pullback in monthly growth, cooling to 0.2% in April from 1.2% in March – the biggest monthly jump in more than 16 years – and an annual increase of 8.1%, 0.4 percentage point lower than the prior 8.5%, which was the hottest reading since December 1981.

* Fed officials on Tuesday fortified their arguments for the swiftest series of interest rate hikes since at least the 1990s to combat inflation, while President Joe Biden urged the U.S. central  ..

* Gold is seen as a hedge against inflation and a safe store of value during times of political and economic crises, but is highly sensitive to rising short-term U.S. interest rates, which raise the opportunity cost of holding zero-yield bullion.

* Spot silver dipped 0.1% to $21.23 per ounce, while platinum edged higher 0.1% to $964.64, and palladium

fell 1.2% to $2,040.25.

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JAMES COMMODITY : Wednesday Live Gold News. Get Non Stop Targets in Gold C/W-9368536663

Gold was down on Wednesday morning in Asia, hitting its lowest level since February 11, as investors eyed the rising dollar and inflation data.

Gold futures were down 0.22% to $1,836.96 by 11:06 PM ET (3:06 AM GMT).

The Dollar, which normally moves inversely to the gold, inched down on Wednesday morning, but the moves were small. The tightened policy to fight inflation from the U.S. Federal Reserve has fueled five weeks of gains for the dollar.

The Fed raised its interest rates to 1% last week. Fed officials on Tuesday reiterated their stance on the aggressive efforts to slow the fastest inflation in 40 years.

“I know that families all across America are hurting because of inflation,” U.S. President Joe Biden said in a speech a day before the Consumer Price Index (CPI) came out.

“I want every American to know that I am taking inflation very seriously and it is my top domestic priority.”

As investors expect additional increases of the same magnitude from the Fed, they await the U.S. Core CPI, due later in the day, for more clues on the Fed’s monetary policies. The forecasts prepared by Investing.com expected the figure to moderate but stay above 8%.

In Asia Pacific, Australia’s consumer sentiment released on Wednesday fell 5.6% in May from April, according to the Westpac-Melbourne Institute index. Surging inflation and rising interest rates are weighing on household spending.

In other precious metals, silver dipped 0.1%. Platinum edged up 0.1%, while palladium fell 1.2%.

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How To Trade In Crude Oil Segment? Read This Crude Oil News And Join And Secure Your Investment with https://www.mcxexperttrade.com

Oil prices edged higher on Thursday, extending gains from the previous session, as a European Union proposal for new sanctions against Russia, including an embargo on crude in six months, offset concerns over Chinese demand.

Brent crude futures had climbed 35 cents, or 0.3%, to $110.49 a barrel by 0209 GMT, while U.S. West Texas Intermediate crude futures rose 25 cents, or 0.2%, to $108.06 a barrel.

Both benchmarks jumped more than $1 a barrel earlier in the volatile session  ..

The sanctions proposal, which was announced by European Commission President Ursula von der Leyen and needs unanimous backing by the 27 EU countries to take effect, includes phasing out supplies of Russian crude in six months and refined products by the end of 2022.

It also proposes to ban in a month’s time all shipping, brokerage, insurance and financing services offered by EU companies for the transportation of Russian oil.

“That’s a likely game changer for oil and refined product markets,” CBA analyst Vivek Dhar said in a note, adding that sanctions on insurance, previously used by the United States and European countries, were effective in limiting Iran’s oil exports.

However, the EU faces the task of finding alternative supplies at a time when energy prices have surged. It imports some 3.5 million barrels of Russian oil and oil products daily and also depends on Moscow’s gas supplies.

A handful of eastern EU countries are concerned that the proposal gives them insufficient time to adapt.

“The most immediate questions are how many countries will receive exemptions, the scope of the additional sanctions measures to curtail Russian oil export

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Gold prices climbed over a per cent on Thursday after Federal Reserve Chair Jerome Powell turned less hawkish over rate hikes. However, silver outperformed the yellow metal with a wide margin.

Pritam Patnaik, Head – Commodities, Axis Securities said that gold prices rallied after the Fed event, primarily due to the fact that the 50 basis point rate hike was in line with expectations.

Rate hikes tend to lift bond yields and make bullion less attractive by raising its opportunity ..

Rahul Kalantri, VP Commodities, Mehta Equities, said the outcome of the US Fed meeting dragged the US dollar index below the round level, but gold and silver prices jumped after Powell said the US central bank was not actively weighing a 75-basis point increase.

In the spot market, highest purity gold was sold at Rs 51,055 per 10 grams while silver was priced at Rs 62,538 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.

The spot price of gold has dropped about Rs 2,500 per 10 grams since April 18, 2022, whereas silver has tumbled almost Rs 8,800 per kg in the same period under review.

Gold was falling in anticipation of interest rate hike and yesterday marked the most aggressive Fed tightening of monetary policy at one meeting in decades, aimed at rapidly reducing the economic stimulus that has contributed to rising price pressures, said Ravi Singh, Vice President and Head of Research, ShareIndia.
 ..

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JAMES COMMODITY : Thursday Live Gold News. Get Non Stop Targets in Gold C/W-9368536663

Gold was up on Thursday morning in Asia, after the U.S. Federal Reserve hiked interest rates in its latest effort to curb inflation. The Fed highlighted inflation as a risk to the economy while also ruling out larger hikes for the rest of 2022.

Gold futures jumped 1.76% to $1,901.67 by 12:57 AM ET (4:57 AM GMT), after rising 1% earlier in the session. The dollar, which normally moves inversely to gold, inched up on Thursday, but remained near the one-month low hit during the previous session.

The Fed hiked its interest rate to 1%, the largest increase since 2000, as it handed down its policy decision on Wednesday. Fed Chairman Jerome Powell said the 75-basis points super-hike feared by investors is “not something that the committee is actively considering,” adding that policymakers view the “neutral” level of the fed funds rate to be 2% to 3%.

Powell also appealed to Americans struggling with high inflation to be patient while policymakers take the hard measures to bring it under control. He also said the Fed has ruled out, for now, a rate hike of three-quarters of a percentage point at the central bank’s upcoming monetary policy meetings.

Gold, which is often perceived as a hedge against rising costs, jumped 1% in the previous session on Powell’s statement. U.S. Treasury yields also fell sharply on Wednesday, boosting the yellow metal.

Across the Atlantic, the Bank of England will hand down its policy decision later in the day. Elsewhere, China’s Caixin services purchasing managers index was 36.2 in April 2022.

In other precious metals, silver jumped 1.1%, platinum firmed 0.6% to $997.19, and palladium rose 0.8%.

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JAMES COMMODITY : Thursday Live Gold News. Get Non Stop Targets in Gold C/W-9368536663

Gold Down, Near Two-Month Low Over Stronger Dollar, Looming U.S. Rate Hike.

Gold was down on Thursday morning in Asia, falling to a two-month low. A stronger dollar hurt demand for the yellow metal, and an imminent U.S. interest rate hike also dampened sentiment for the safe-have asset.

Gold futures gained 0.56% to $1,878.10 by 12:57 AM ET (4:57 AM GMT) after hitting their lowest since Feb. 24 earlier in the session. The dollar, which normally moves inversely to gold, was up on Thursday and hit a five-year high of 103.28. A further push above 103.82 would see it to levels not seen since late 2002.

Gold has been holding very well above $1,900 but has seen pressure from the dollar, and the underlying factor of the U.S. Federal Reserve being expected to raise interest rates by 50 basis points in the following week, GoldSilver Central managing director Brian Lan told Reuters.

Benchmark 10-year U.S. Treasury yields also firmed, with investors awaiting more clarity on the “restrictive” policy the Fed plans to pursue to combat inflation. The Bank of Japan kept its interest rate steady at -0.10% as it handed down its policy decision earlier in the day, with the European Central Bank also publishing its economic bulletin.

With gold prices failing to push higher despite Russia’s invasion of Ukraine on Feb. 24 and rapid inflation, investors have probably decided to look elsewhere, Lan said, adding that lockdowns in China in response to the latest COVID-19 outbreaks have impacted demand from the top consumer.

Global demand for gold surged in the first quarter of 2022 to the highest in over three years, driven by investors worried about the war in Ukraine and inflationary pressures, according to the World Gold Council.

In other precious metals, silver inched down 0.1% and platinum eased 0.4% to $914.17, while palladium jumped 1.2%.

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