GOLD PRICES SURGE OVER ₹1000 IN A DAY, HIT RECORD HIGHS

At the MCX, Gold futures for Oct 2019 contract was trading at Rs. 37772.00 per 10 gms, up by 0.73 %, after opening at Rs. 37830.00 per 10 gms , against a previous close of Rs. 37497.00 per 10 gms. It touched the intra-day low of Rs. 37613.00 per 10 gms and high of Rs. 38070.00 per 10 gms.

Gold prices in India continue to surge to new highs as trade tensions between the US and China boosted the safe-haven appeal of precious metal.

MCXCOMDEX opened with positive note at 3790.16 and traded down by 0.40% at 3779.76. Commodities like Silver, Gold, Cotton, Natural gas, CPO were stood as top gainers, gained by 1.51%, 1.19%, 0.30%, 0.26%, 0.02% respectively. On the other hand, Cardamom, Crude oil, Nickel, Zinc, Lead, Mentha oil, Aluminium, Copper futures were stood as top losers, lose by 3.00%, 1.79%, 1.27%, 1.17%, 0.45%, 0.40%, 0.39%, 0.38% respectively.

A 35- basis point rate cut by RBI failed to lift the investor on Wednesday as the benchmark indices ended in the negative note. At close, the Sensex was down 286.35 points or 0.77% at 36690.50 while Nifty was down 92.75 points or 0.85% at 10855.50.