GOLD DECLINES ON MUTED SPOT DEMAND

At the MCX, Gold futures for Aug 2019 contract was trading at Rs. 34935.00 per 10 gms, down by 0.44 %, after opening at Rs. 35050.00 per 10 gms , against a previous close of Rs. 35090.00 per 10 gms. It touched the intra-day low of Rs. 34926.00 per 10 gms and high of Rs. 35120.00 per 10 gms.

Gold prices traded lacklustre in futures trade on Thursday due to muted demand from jewellers at spot markets. Global cues, too, were uninspiring. The yellow metal pulled back from a two-week high to trade lower in global markets as some investors took advantage of the last session's gain to book profits.

Cardamom Aug future traded at upper circuit amid continued concerns over a sharp drop in production in 2019-20.

MCXCOMDEX opened with positive note at 3733.54 and traded up by 0.60% at 3754.32. Commodities like Cardamom, Nickel, Natural Gas, Lead, Zinc, Crude oil, Silver, Mentha oil, CPO, Aluminium, Copper were stood as top gainers, gained by 3.05%, 2.73%, 1.38%, 0.77%, 0.75%, 0.69%, 0.63%, 0.56%, 0.32%, 0.31%, 0.11% respectively. On the other hand, Gold, Cotton futures were stood as top losers, lose by 0.44%, 0.37% respectively.

Equity Market ended lower on Thursday as fresh trade war concerns and mixed April-June quarter earnings eroded investors' confidence. Heavy selling was witnessed across the board with stocks of public sector banks, automobiles and metals slipping the most. At close, the Sensex was down 318.18 points or 0.81% at 38897.46 while Nifty was down 90.60 points or 0.78% at 11596.90.