GOLD EXTENDS GAINS, PRICES NEAR MORE THAN 5-YEARS HIGH

At the MCX, Gold futures for Aug 2019 contract was trading at Rs. 34201.00 per 10 gms, up by 0.51 %, after opening at Rs. 34070.00 per 10 gms , against a previous close of Rs. 34026.00 per 10 gms. It touched the intra-day low of Rs. 33900.00 per 10 gms and high of Rs. 34468.00 per 10 gms.

Gold prices surged 1 per cent to their highest level in more than five years after the US Federal Reserve signalled possible rate cuts later this year. Silver future traded lower on Friday as speculators cut down positions amid a weak trend overseas.

Oil prices rallied on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20% of the world’s oil output.

MCXCOMDEX opened with positive note at 3665.30 and traded up by 0.21% at 3671.69. Commodities like Cardamom, Natural Gas, Crude oil, Gold were stood as top gainers, gained by 4.00%, 1.72%, 1.16%, 0.51% respectively. On the other hand, Mentha oil, Nickel, Silver, CPO, Lead, Zinc, Aluminium Copper futures were stood as top losers, lose by 3.79%, 0.87%, 0.70%, 0.53%, 0.52%, 0.47%, 0.35%, 0.28% respectively .Cotton future traded with flat note in evening trading session.