On India's MCX gold
prices are trading a tad low at Rs.30946 in the initial hours. On the SMX gold for December delivery is up
by 0.26% at 12.32 pm Singapore time.
Gold prices on the Comex were volatile on Wednesday as the greenback climbed only to fall later as investors booked profits which in turn saw the gold prices climb.
December gold was a tad up by 0.09% at $1,781.35 a troy ounce in the early morning hours in India. It touched a session low of 1,780.55 and a high of 1,782.15 a troy ounce.
US private-sector employment increased by 162,000 from August to September on a seasonally adjusted basis, according to the latest ADP National Employment Report released Wednesday.
The PMI data from US as well as the job data released by ADP portrayed positive image of US markets which strengthened the USD.
The purchasing managers' index by ISM climbed to 55.1 in September from 53.7 in August. A figure below 50 indicates contraction and above 50 expansion.
Both these data took the greenback higher which resulted in profit booking and subsequent rise in gold prices. Gold and greenback are inversely related. Via
Gold prices on the Comex were volatile on Wednesday as the greenback climbed only to fall later as investors booked profits which in turn saw the gold prices climb.
December gold was a tad up by 0.09% at $1,781.35 a troy ounce in the early morning hours in India. It touched a session low of 1,780.55 and a high of 1,782.15 a troy ounce.
US private-sector employment increased by 162,000 from August to September on a seasonally adjusted basis, according to the latest ADP National Employment Report released Wednesday.
The PMI data from US as well as the job data released by ADP portrayed positive image of US markets which strengthened the USD.
The purchasing managers' index by ISM climbed to 55.1 in September from 53.7 in August. A figure below 50 indicates contraction and above 50 expansion.
Both these data took the greenback higher which resulted in profit booking and subsequent rise in gold prices. Gold and greenback are inversely related. Via
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