GOLD PRICES SLIP TODAY BUT SILVER RATES FLAT

At the MCX, Gold futures for Aug 2019 contract was trading at Rs. 34726.00 per 10 gms, down by 0.14 %, after opening at Rs. 34750.00 per 10 gms , against a previous close of Rs. 34773.00 per 10 gms. It touched the intra-day low of Rs. 34700.00 per 10 gms and high of Rs. 34830.00 per 10 gms.

Gold prices edged lower today amid weak demand from jewellers. In India, record high prices have hurt demand, prompting dealers to offer discounts. The domestic price includes a 12.5% import tax and 3% GST. Earlier this month, the government raised import duties on gold and other precious metals to 12.5% from 10% earlier this month.

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 3707.42 and traded down by 0.29% at 3696.29. Commodities like Cardamom, Crude oil, Silver were stood as top gainers, gained by 4.00%, 0.28%, 0.03% respectively. On the other hand, Mentha oil, Natural gas, Nickel, Cotton, Lead, Aluminium, CPO, Zinc, Gold, Copper futures were stood as top losers, lose by 1.21%, 1.14%, 1.06%, 0.90%, 0.55%, 0.46%, 0.33%, 0.21%, 0.14%, 0.13% respectively.

After opening marginally higher, the headline indices Sensex and Nifty pared gains and extended losses in the afternoon trade on Monday. At close, the Sensex was down 196.42 points or 0.52% at 37686.37 while Nifty was down 95.10 points or 0.84% at 11189.20.