Futures Market News
Gold futures projected to fall in London
Apr 06, 2012 12:08 PM
Gold futures are likely to decline on markets in London on Friday amid anticipation that economic data from the U.S. will augment positive sentiment about growth and development in the nation hosting the globe's largest economy, according to Bloomberg.
With U.S. markets closed in observation of Good Friday, one significant development for gold prices is the jewelers strike in India being suspended, according to The Wall Street Journal. The chair of an Indian trade association said a meeting with the finance minister of the subcontinent prompted protest organizers to lift the demonstration until May 11.
The finance minister is expected to make "some favorable announcement" at the Indian Parliament by that point, the trade federation leader said after meeting with the minister on Friday.
Indian prices of gold futures fell by roughly $20 per troy ounce during the protest as a result of reduced demand from retailers and wholesalers after the minister announced tariffs on gold during a mid-March budget speech.
Gold futures were trading at about $1,631.50 per troy ounce shortly after 7 a.m. New York time on Friday.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: TAS Live Room FREE VIP Pass
Enjoy interactive training on Market Profile®, volume analysis & the TAS Tools indicator package!
Daniels Trading is rolling out the red carpet for you. With your complimentary VIP Pass, you’ll enjoy access to the popular TAS Live Room. Your VIP Pass provides admittance to the next Tuesday morning live training session (8:30am-10:30am CT, Chicago).
Special Offer
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.






