Commodity Market Outlook – RR Commodity Brokers

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Gold fell more than 2 percent on Friday, set for its biggest one-day drop in over three weeks, as funds dumped bullion after resilient U.S. jobs data suggested the Federal Reserve could begin to scale back its monetary stimulus later this year. The metal is headed for its first weekly drop in two weeks after Friday’s sell off more than erased gains earlier this week. A sharp dollar drop and strong physical demand had lifted gold above $1,400 an ounce for most of this week. Equity Linked Saving Schemes are diversified equity funds with lock – in period and offer an investor income tax exemption of 1 Lac Rupees per section 80c of Income Tax Act.

Today’s Key Headlines

  • Heavy pullback seen as knee-jerk reaction to payrolls data
  • No trading halt in Comex gold; futures volume low
  • Top bullion consumer India steps up gold import curb
  • Crude Reaches Two-Week High as U.S. Employment Picks Up
  • Commodity Investments Drop the Most in 11 Months as Gold Tumbles
  • Myanmar as Economic Miracle Hinges on Natural Gas Bounty: Energy
  • Newcrest to Cut Mine Value by Up to $5.7 Billion on Slump

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