GOLD PRICES REMAIN STEADY NEAR RECORD HIGHS

At the MCX, Gold futures for Aug 2019 contract was trading at Rs. 34773.00 per 10 gms, up by 0.21 %, after opening at Rs. 34742.00 per 10 gms, against a previous close of Rs. 34701.00 per 10 gms. It touched the intra-day low of Rs. 34708.00 per 10 gms and high of Rs. 34870.00 per 10 gms.

Gold prices in India remained steady today after hitting a new high on Thursday. In global markets, gold prices remained on an upward trend, consolidating above $1,400 per ounce as renewed China-US trade tensions and prospects of an interest rate cut by the US Federal Reserve spurred safe-haven demand.

Oil prices rose on Friday in Asia after U.S. oil producers cut more than half of Gulf of Mexico crude output due to Tropical Storm Barry, which is expected to make landfall over the weekend. Geopolitical tension in the Middle East is also providing support to the oil market.

MCXCOMDEX opened with positive note at 3708.87 and traded up by 0.20% at 3715.00. Commodities like Cardamom, Copper, Natural Gas, Zinc, Mentha oil, CPO, Gold, Crude oil, Cotton, Silver, Aluminium were stood as top gainers, gained by 4.00%, 0.45%, 0.42%, 0.36%, 0.34%, 0.28%, 0.21%, 0.17%, 0.14%, 0.14%, 0.04% respectively. On the other hand, Lead, Nickel futures were stood as top losers, lose by 0.16%, 0.25% respectively.

Equity Market ended Friday's choppy session in the negative territory. The markets remained range-bound, in the positive territory, for most part of the day but were dragged lower by index heavyweights like HDFC Bank, Axis Bank, Larsen & Toubro, and Bajaj Finance. At close, the Sensex was down 86.88 points or 0.22% at 38736.23 while Nifty was down 30.40 points or 0.26% at 11552.50.