Natural Gas futures
plunged by over 1.7 per cent in the domestic market on Wednesday as investors
and speculators exited positions in the energy commodity tracking a weak trend
in the overseas market amidst caution ahead of the weekly US storage data which
may signal the strength of the fuel in the world’s biggest economy.
Yellen comments
Gold futures ended lower
in the domestic market on Wednesday as investors and speculators exited
positions in the precious metal tracking weakness in the overseas market after
Fed Chair Janet Yellen indicated that the world’s top central bank is on track
to raise interest rates for the first time in almost a decade this month,
curbing the lure for the bullion as a store of value.
Yellen stressed that the
world’s biggest economy is ready for higher borrowing costs, while a bullish US
private payrolls report for November which showed that the US private sector
added most workers in five months also bolstered the case for policy tightening.
gold slumped to a
near-six-year low on Thursday after comments from Federal Reserve chair Janet Yellen virtually cemented
the case for a US rate hike this month, while the strength in the dollar also
pressured the metal.
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