Gold futures moved above $940 an ounce as US dollar continued to shed against the Euro. Losses exacerbated even more in the US dollar after the ADP non arm data. The U.S. private sector shed 473,000 jobs in June, according to the ADP employment report released Wednesday. The report comes one day before the Labor Department reports on nonfarm payroll growth for June.
Over the past three months, monthly employment losses have averaged 492,000. This is an improvement over the 691,000 jobs monthly job losses averaged in the first quarter.
Also due are the Institute of Supply Management's manufacturing gauge headlines a crowded release schedule for the U.S., with releases also due pending home sales, construction spending, car sales and weekly energy inventories.
MCX August bullion contract futures also jumped to as high as Rs 14532 up Rs 81 per 10 grams. Same was last seen quoting at Rs 14508 up Rs 57.
The subsequent resistance comes around Rs 14580 and 14625 levels. However the supports are at 14410 and 14365 levels.
International Bullion futures for the upfront month contract are trading at $ 938.5 up $11.1 per ounce after striking the intra session high of $ 940.1.
A move above $ 941 may take it to 947 levels. Break of $950 will be crucial and may set the trend on either
Over the past three months, monthly employment losses have averaged 492,000. This is an improvement over the 691,000 jobs monthly job losses averaged in the first quarter.
Also due are the Institute of Supply Management's manufacturing gauge headlines a crowded release schedule for the U.S., with releases also due pending home sales, construction spending, car sales and weekly energy inventories.
MCX August bullion contract futures also jumped to as high as Rs 14532 up Rs 81 per 10 grams. Same was last seen quoting at Rs 14508 up Rs 57.
The subsequent resistance comes around Rs 14580 and 14625 levels. However the supports are at 14410 and 14365 levels.
International Bullion futures for the upfront month contract are trading at $ 938.5 up $11.1 per ounce after striking the intra session high of $ 940.1.
A move above $ 941 may take it to 947 levels. Break of $950 will be crucial and may set the trend on either
No comments:
Post a Comment