GOLD, SILVER FUTURES DIP ON STRONGER RUPEE

At the MCX, Gold futures for Oct 2019 contract was trading at Rs. 37924.00 per 10 gms, down by 0.21 %, after opening at Rs. 37903.00 per 10 gms , against a previous close of Rs. 38004.00 per 10 gms. It touched the intra-day low of Rs. 37814.00 per 10 gms and high of Rs. 37960.00 per 10 gms.

Gold prices eased on Wednesday as investors turned cautious ahead of minutes from the U.S. Federal Reserve's last meeting, which is expected to shed more light on interest rate cuts. The fall in gold futures was mostly attributed to profit-booking by participants at the domestic market. Silver prices fell in futures trade today as speculators trimmed their exposure amid a weak trend in global markets.

Oil prices gained on Wednesday after the American Petroleum Institute (API) reported that U.S. crude inventories fell for the first time in three weeks.

MCXCOMDEX opened with negative note at 3881.47 and traded up by 0.29% at 3896.75. Commodities like Crude oil ,CPO, Natural Gas, Zinc, Cardamom, Aluminium, Mentha oil, Copper, Cotton, Lead were stood as top gainers, gained by 1.37%, 1.37%, 0.69%, 0.66%, 0.60%, 0.25%, 0.24%, 0.06%, 0.05%, 0.0.3% respectively. On the other hand, Silver, Nickel, Gold futures were stood as top losers, lose by 0.47%, 0.46%, 0.21% respectively.

Absence of any stimulus package to revive the weak consumer demand and lift the economy, coupled with fresh trade war concerns between the US and China hurt investors' sentiment on Wednesday. Financial and metal stocks dragged the benchmark . At close, Sensex was down 267.64 points or 0.72 % at 37060.37 and Nifty was down 98.30 points or 0.89% at 10918.70.