Gold futures popped up in the mid London trades after trading in a tight band earlier as the action remained lull on account of closure of US markets today. COMEX Gold traded in the range of $ 934.3- 927.8 per ounce. Of late it was seen quoting at $ 933.7 up $ 2.7. In the currencies and data release, euro posted little reaction to May retail sales data. Sales volume across the 16-nation euro zone fell 0.4% in May, compared to market expectations for a 0.2% decline.
Earlier, a final reading of the June euro zone purchasing managers survey showed the composite purchasing managers index rose to 44.6 from 44.0 in May, exceeding a preliminary estimate of a rise to 44.4.
The reading still indicates a contraction in activity. A figure of less than 50 signals a majority of managers saw a drop in activity, while a figure of more than 50 signals expansion. The June reading marked the smallest decline in output since September, Markit said.
The British pound traded at $1.6334 versus the dollar, little changed from Thursday. The CIPS/Markit U.K. services PMI for June slipped to 51.6 in June from 51.7 in May, signaling that growth continued for a second month in a row but at a slower pace.
MCX counter was however under pressure due to rally in the Indian Rupee. MCX August gold was down nearly Rs 20 at Rs 14467 per 10 grams. It fell to as low as Rs 14440. It may rebound from Rs 14420 levels.
Earlier, a final reading of the June euro zone purchasing managers survey showed the composite purchasing managers index rose to 44.6 from 44.0 in May, exceeding a preliminary estimate of a rise to 44.4.
The reading still indicates a contraction in activity. A figure of less than 50 signals a majority of managers saw a drop in activity, while a figure of more than 50 signals expansion. The June reading marked the smallest decline in output since September, Markit said.
The British pound traded at $1.6334 versus the dollar, little changed from Thursday. The CIPS/Markit U.K. services PMI for June slipped to 51.6 in June from 51.7 in May, signaling that growth continued for a second month in a row but at a slower pace.
MCX counter was however under pressure due to rally in the Indian Rupee. MCX August gold was down nearly Rs 20 at Rs 14467 per 10 grams. It fell to as low as Rs 14440. It may rebound from Rs 14420 levels.
No comments:
Post a Comment