MCX Gold Stays Flat Ahead Of FOMC

Gold futures stay flat in the Asia electronic session today with the dollar trading near a four-month low against the euro before the Federal Open Market Committee wraps up a two-day meeting today.

Yesterday, Germanys Federal Constitutional Court rejected pleas to block the ratification of Europes EUR500 billion permanent rescue fund, clearing the way for Germanys president to ratify the ESM under certain conditions and allowing the European Central Banks bond purchasing program to proceed.

However, the judges attached various conditions to the ESM, saying the countrys liability to the fund must not exceed EUR190 billion without the approval of the lower house of parliament and said that both houses of parliament must be kept informed about decisions relating to the ESM.

COMEX December gold futures are trading flat at $ 1733.8 per ounce. Meanwhile, markets continued to eye the outcome of the Feds policy meeting on Thursday, amid fresh speculation that the U.S. central bank may announce a third round of bond purchases, or quantitative easing, to boost growth.

Market expectations of a QE3 announcement this week increased after last Fridays weaker-than-expected jobs report and following a speech from Fed Chief Ben Bernanke at Jackson Hole last month. Via

====================================================================================

You can contact us for any help in trading Commodities, stock and futures. We are the leading brand in providing high quality trading tips for commodities, equities and futures. Complete broker franchise available here and our charges are very low. Just give it a try and find the difference.


Call us at 9872444433, 0161-4413274, 0161-4621433 for more details and for free trials and amazing offers for traders. Join us and become a professional trader.  

Official  Website: Dhansukh.Com
Email & Messenger: Investwithme@yahoo.in  

====================================================================================

Posted in: commodity news,market news,trading news