MTECHTIPS;-GOLD
Gold ticked lower on Thursday on fears the U.S. Federal Reserve could soon scale back its bullionfriendly bond buying program, but tight supply in the physical market could offer some support to prices. Premiums for physical gold in Singapore touched all-time highs this week as supplies proved hard to acquire, even as premiums in other Asian countries eased after gold prices bounced off two-year lows seen in April. Outlook: Gold is expected to trade with negative bias and later take cues from US GDP and other economic data. ( US unemployment claims & Pending home sales)
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Gold ticked lower on Thursday on fears the U.S. Federal Reserve could soon scale back its bullionfriendly bond buying program, but tight supply in the physical market could offer some support to prices. Premiums for physical gold in Singapore touched all-time highs this week as supplies proved hard to acquire, even as premiums in other Asian countries eased after gold prices bounced off two-year lows seen in April. Outlook: Gold is expected to trade with negative bias and later take cues from US GDP and other economic data. ( US unemployment claims & Pending home sales)
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