GOLD PRICES SHOOT UP TODAY ON POSITIVE GLOBAL CUES

At the MCX, Gold futures for Aug 2019 contract was trading at Rs. 34409.00 per 10 gms, up by 1.08 %, after opening at Rs. 34280.00 per 10 gms , against a previous close of Rs. 34042.00 per 10 gms. It touched the intra-day low of Rs. 34280.00 per 10 gms and high of Rs. 34499.00 per 10 gms.

Gold prices climbed over 1 per cent in global markets on Wednesday, driven by strong safe haven sentiment as hopes of a quick end to the US-China trade row faded and a new trade front in Europe deepened concerns over tepid economic growth.

MCXCOMDEX opened with positive note at 3634.59 and traded up by 0.32% at 3640.18. Commodities like Cardamom, Nickel, Gold, Natural Gas, CPO, Silver, Mentha oil, Cotton were stood as top gainers, gained by 3.81%, 1.45%, 1.08%, 0.58%, 0.28%, 0.26%, 0.22%, 0.14% respectively. On the other hand, Crude oil, Zinc, Copper, Aluminium futures were stood as top losers, lose by 0.68%, 0.23%, 0.14%, 0.04% respectively.

The July contract of cardamom was trading higher mainly due to expectations of a sharp fall in production in 2019-20 (Jul-Jun). Cardamom price record a new high.

Equity Trading on Wednesday remained range-bound as investors remained on the sidelines a day before the new government tables the Economic Survey in the Parliament on Thursday, July 4. At close, the Sensex was up 22.77 points or 0.06% at 39839.25, while Nifty was up 6.45 points or 0.05% at 11916.75.