Home

 
India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading

IBCRR

Forex Brokers

Technicals

Precious Metals Trading

Economic Data

Commodity Futures Trading

Fixes

Live Forex Charts

Charts

World Gold Prices

Reports

Forex COMEX India

Contact Us

Chat

Bullion Trading Bullion Converter
 

$ Price :

 
 

Rupee :

 
 

Price in RS :

 
 
Specification
  More Links
Forex NCDEX India

Contracts

Live Gold Prices

Price Quotes

Gold Bullion Trading

Research

Forex MCX India

Partnerships

Gold Commodities

Holidays

Forex Currency Trading

Libor

Indian Currency

Advertisement

Forex MCX India

Link Exchange

 
MW: Gold jumps back above $1,200 for first time since November
 
Gold prices on Thursday climbed back above the $1,200 mark for the first time since November, as the dollar fell on disappointment that President-elect Donald Trump didn’t provide more details on his economic plans at a closely watched press conference.

Gold for February delivery GCG7, +0.62% rose $8.50, or 0.7%, to $1,205.10 an ounce, setting it on track for its highest settlement price since Nov. 22. The metal has now risen in seven out of the last eight sessions.

“The weakness of the dollar continues to help the recovery in gold,” said Richard Perry, market analyst at Hantec Markets, in a note.

“A close back above $1,200 today would also be a key psychological breakthrough for the bulls... If resistance between $1,200/$1,211 can be breached, there is little reason why a pullback towards $1,241/$1,250 cannot be seen,” he added.


The ICE Dollar Index DXY, -0.71% slid 0.7% to 101.02, trading around its lowest level in about a month. The sharp dollar drop came after Trump in his first full-scale press conference since July offered little details on his administration’s plans for economic stimulus, trade policy and tax reforms, but instead focused on railing against news outlets. Investors had hoped for more clarity on his policies to keep the dollar and stock rally going.

Other metals were lifted by the dollar weakness. Silver for March SIH7, +0.67% was up 0.7% to $16.95 an ounce, while copper for the same month HGH7, +0.63% jumped 1.6% to $2.65 a pound.

Palladium for March PAH7, +0.68% climbed 0.7% to $759.40 an ounce, and April platinum PLJ7, +1.65% gained 1.5% to $991.20 an ounce.

Source