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GOLD PRICE STABLE AS MARKETS SEEK CLARITY ON TRADE WAR DIRECTION

At the MCX, Gold futures for Oct 2019 contract was trading at Rs. 38775.00 per 10 gms, down by 0.14 %, after opening at Rs. 38797.00 per 10 gms , against a previous close of Rs. 38828.00 per 10 gms. It touched the intra-day low of Rs. 38713.00 per 10 gms and high of Rs. 38950.00 per 10 gms.

Gold prices in futures trade remained stable on Tuesday, after retreating from all-time high levels touched in the previous session, on ease in worries over US-China trade war and rebound in domestic currency.

Gold prices in India are influenced by the metal’s overseas rates and the rupee. India is the second largest consumer of the metal after Greater China.

MCXCOMDEX opened with flat note at 3869.82 and traded up by 0.12% at 3874.55. Commodities like Nickel, Crude oil, Zinc, Cotton, Mentha oil were stood as top gainers, gained by 0.89%, 0.72%, 0.46%, 0.25%, 0.03% respectively. On the other hand, CPO, Cardamom, Natural Gas, Copper, Aluminium, Gold, Silver, Lead futures were stood as top losers, lose by 0.98%, 0.75%, 0.50%, 0.20%, 0.14%, 0.14%, 0.07%, 0.03% respectively.

Domestic Equity market railed on the possibility of easing trade tensions between the US and china. Sensex was up 147.15 points or 0.39 % at 37641.27 and Nifty was up 47.50 points or 0.43% at 11105.35.



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