GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY EVENING MARKET NEWS UPDATES – 05 FEB 2018

CS MCX Commodity Evening mkt updates

Gold Edges Lower to Start the Week Amid Rising Bond Yields Gold prices edged lower to start the week on Monday, as investors reacted to data from the U.S. Labor Department showing wages last month recorded their largest annual gain in more than 8-1/2 years. The data contributed to the sentiment that inflation is picking up and higher interest rates are on the horizon. Gold fell almost 1% on Friday after a stronger-than-expected U.S. jobs report drove up the dollar and Treasury yields as the data laid some groundwork for a potentially more aggressive Federal Reserve interest-rate hikes this year. The majority of economists believe that the U.S. central bank will hike rates three times this year. However, the market is now adjusting to the possibility that the Fed could raise rates four more times in 2018. Gold is highly sensitive to rising rates, which increase the opportunity cost of holding nonyielding bullion.

Oil Starts the Week Lower Amid Steady Uptick in U.S. Output Crude prices started the week in negative territory on Monday, as traders weighed a steady increase in U.S. output against OPEC’s ongoing efforts to drain the market of excess supplies. The number of oil drilling rigs climbed for a second week in a row, General Electric(NYSE:GE)’s Baker Hughes energy services firm said in its closely followed report on Friday. It rose by six to 765 last week, implying that further gains in domestic production are ahead. Domestic U.S. output has rebounded by almost 20% since the most recent low in mid-2016, and increasing drilling activity for new production means output is expected to grow further, as producers are attracted by climbing prices. U.S. crude oil production, driven by shale extraction, hit 9.91 million barrels per day last week, according to government data, the highest level since the early 1970s and close to the output of top producers Russia and Saudi Arabia.

MCX TipsStock Market LiveFinancial Advisory Company in IndoreStock Advisory Company in Indore ,  Intraday stock Tips , Financial Advisory company  , Sebi Registered Advisory company , Capitalstars Video Gallery

CapitalStars Provides  Free Trial To Our Client…

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM