Gold prices edge up ahead of U.S. jobs data, set for seventh weekly gain

-

Gold prices inched up on Friday and were heading for their seventh consecutive weekly gain, with investors waiting for U.S. non-farm payrolls data later in the day for clues on the outlook for interest rate cuts.




FUNDAMENTALS

Spot gold was up 0.2% at $1,417.40 per ounce as of 0119 GMT. Prices touched $1,435.99 on Wednesday, the highest since June 25.

The metal has risen 0.7% so far this week and is on track for its seventh consecutive weekly rise.

U.S. gold futures were down 0.1% at $1,419.90 an ounce.

All eyes are on U.S. non-farm payrolls, due later in the day, which are expected to have jumped by 160,000 in June compared with 75,000 in May.

The U.S. Federal Reserve holds its two-day policy meeting on July 30-31 and futures are fully pricing in a 25-basis-point cut.

The dollar index was relatively unchanged against a basket of major currencies on Friday.

U.S. Treasury yields fell on Wednesday with 10-year yields hitting their lowest in over 2-1/2 years.

Asian shares hovered near two-month highs on Friday, holding recent gains.

Australia's OceanaGold Corp said on Thursday that it had stopped trucking at its Didipio gold and copper mine in the Philippines after a dispute with the provincial government over its licence to operate at the site.

Investors pulled $15.1 billion from equity funds after near record selling in the United States ahead of the G20 Summit, and piled $6.3 billion into bonds in the four trading days to July 2, Bank of America Merrill Lynch (BAML).


Best Share Market News, Click Here To Get More News - MCX tips, for 2 Days Free Trial give a missed call @9644405057 and Get Share Market Services.

Comments

Post a Comment

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

-
MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Read more

Bharti Airtel stock surge, global cues lift equities

-
Image
Positive global cues, coupled with healthy buying following a major announcement by a telecom major, lifted the Indian equities markets during the mid-afternoon trade session on Thursday. The key indices traded with substantial gains of around half a percent each, as healthy buying was witnessed in IT, capital goods and consumer durables stocks. Following the announcement of India's largest telecom service provider Bharti Airtel that it has inked a definitive agreement to acquire Telenor India, the company's scrip on the BSE gained 2.99 per cent or Rs 10.80 to Rs 371.95 per equity share (at 1.40 p.m.) during the mid-afternoon trade session from its previous close of Rs 361.15. The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 41.00 points or 0.46 per cent to 8,967.90 points. HURRY UP two days FREE TRIAL invest money make more of it click here  http://www.ripplesadvisory.com
Read more

Is Tata Motors increasingly seen as a takeover target by investors?

-
Image
A rose by any other name would smell just as sweet, goes the Shakespearean saying.  Likewise, if the value of a stock is the sum of the present value of its future cash flows, how should it matter to investors whether the equity shares they purchase are called ordinary shares or shares with differential voting rights (DVRs). But apparently, in the case of Tata Motors Ltd, it matters a lot. The company’s ordinary shares now trade at a record premium of about 120% over its DVRs. The ordinary shares, which trade at ₹109.50 apiece, offer one vote for every share held in the company, and the DVRs, which trade at ₹49.95 apiece, offer one vote for every 10 shares held. Researchers such as Aswath Damodaran of New York University say that the difference between voting and non-voting shares is almost entirely explained by the value attached to the possibility of a change in the company’s management or ownership. In a paper that sought to assess the economic value of v...
Read more