GOLD DECLINES ON WEAK GLOBAL TREND

At the MCX, Gold futures for Aug 2019 contract was trading at Rs. 34730.00 per 10 gms, down by 0.24 %, after opening at Rs. 34787.00 per 10 gms , against a previous close of Rs. 34812.00 per 10 gms. It touched the intra-day low of Rs. 34682.00 per 10 gms and high of Rs. 34794.00 per 10 gms.

Gold prices moved downward on Wednesday, tracking weak trends in overseas markets as well as muted demand by jewellers at spot markets. In global markets, the yellow metal edged lower as the dollar firmed on robust US retail sales data.

Oil prices rose on Wednesday after steep falls in the previous session, although US crude trailed gains for international benchmark Brent after US crude inventories fell less than expected.

MCXCOMDEX opened with negative note at 3707.02 and traded up by 0.55% at 3729.50. Commodities like Mentha oil, Cardamom, Nickel,Crude oil, Cotton, Natural Gas, Silver were stood as top gainers, gained by 3.35%, 2.63%, 1.58%, 1.06%, 0.74%, 0.63%, 0.18% respectively. On the other hand, Lead, Zinc, CPO, Gold, Copper, Aluminium futures were stood as top losers, lose by 0.55%, 0.31%, 0.28%, 0.24%, 0.19%, 0.17% respectively.

Domestic markets ended Wednesday's choppy trading session with gains. Corporate earnings kept indices volatile with buying being witnessed in select public sector banks and information technology (IT) scrips. Fresh trade war concerns between the Unites States and China also kept the markets jittery. At close, the Sensex was up 84.60 points or 0.22% at 39215.64 while Nifty was up 24.90 points or 0.21% at 11687.50.