Profile image
Story Views

Last Hour:
Last 24 Hours:

MTECHTIPS:-Gold prices stage minor recovery ahead of Yellen remarks

Tuesday, February 14, 2017 2:54
% of readers think this story is Fact. Add your two cents.

MTECHTIPS:-Gold prices stage minor recovery ahead of Yellen remarks



MTECHTIPS- Gold prices staged a minor comeback as pries ticked up in China and political risk remains a feature of the market with attention now turning to the U.S. Fed chief for a clearer view on the expected rate hike path this year. Gold for April delivery on the Comex division of the New York Mercantile Exchange inched up 0.14% to $1,227.55 a troy ounce. Also on the Comex, silver futures for March delivery rose 0.12% to $17.843 a troy ounce, while copper futures gained 0.25% to $2.791 a pound amid concerns over an ongoing strike at the Escondida copper mine in Chile, the largest in the world. The mine produces roughly 5% of the world’s total copper supply. Investors also noted China’s consumer inflation rate quickened to 2.5% in January from a year earlier, the highest since May 2014 and a faster pace than expected. Overnight, gold prices were slightly lower as recent actions by U.S. President Donald Trump helped soothe investor worries about uncertainty surrounding the new administration’s controversial policies. Prices of the yellow metal rallied to a three-month high of $1,246.60 last week amid growing concerns over political risks in Europe and economic uncertainty in the U.S. But futures pulled back as markets shifted focus back on Trump’s efforts to boost economic growth after the president said his administration would be announcing “something phenomenal in terms of tax” over “the next two or three weeks” during a meeting with airline executives last Thursday

We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.