iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Gold prices rise in early trade

10 Mar 2023 , 12:00 PM

When data revealed that weekly U.S. unemployment claims increased more than anticipated, leading to optimism that a deteriorating labor market could pave the way for less-aggressive rate hikes from the Federal Reserve, gold prices crept up on Friday as the dollar weakened.

Spot gold was up 0.1%, trading at $1,832.59 per ounce, after climbing more than 1% the previous day. Futures for U.S. gold increased 0.2% to $1,838.20.

So far this week, gold is expected to decline by around 1.2%.

When the dollar index fell by 0.1%, buyers holding other currencies paid less for bullion.

According to data released on Thursday, Americans filed the newest jobless benefit claims in the previous week in five months, although the overall trend continued to point to a tight labor market.

Later in the day, the U.S. Labor Department will release its non-farm payrolls (NFP) statistics for February, which will be keenly scrutinized for hints about the direction the Fed may take its monetary policy.

According to economists surveyed by Reuters, the jobs data is anticipated to indicate that non-farm payrolls climbed by 205,000 in February.

The Fed's benchmark overnight interest rate is expected to peak in July at 5.475%, according to the markets.

Spot silver increased by 0.1% to $20.09 per ounce, platinum remained unchanged at $944.46, while palladium increased by 0.1% to $1,390.37.

For feedback and suggestions, write to us at editorial@iifl.com

explored-media

Related Tags

  • Bullion
  • FED
  • gold
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

closeIcon

Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp