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MCX Gold Call For Today
March 15, 2016
6:43 am
trademaster
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Gold turned lower and fell below $1,240 an ounce on Monday, as stock markets and the dollar gained, and investors squared positions ahead of closely watched policy meetings of U.S. and Japanese central banks this week.
The weak move followed Friday's brief bounce to a 13-month high after the European Central Bank signaled an end to rate cuts and the euro rose sharply versus the dollar. Gold is highly sensitive to monetary policy and resulting currency moves.
The U.S. Federal Reserve's two-day policy meeting will start on Tuesday and be watched for clues on the future pace of U.S. rate increases. Further U.S. rate hikes could lift the opportunity cost of holding.

Reports by Stock Tips Tomorrow

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