GOLD PRICES MOVE LOWER ON STRONG RUPEE, SURGING EQUITIES

At the MCX, Gold futures for Jun 2019 contract was trading at Rs 31505.00 per 10 gms, down by 0.90 %, after opening at Rs 31679.00 per 10 gms , against a previous close of Rs. 31791.00 per 10 gms. It touched the intra-day low of Rs 31376.00 per 10 gms and high of Rs 31679.00 per 10 gms.

Gold traded near a two-week low as strong US economic date underpinned the dollar. Silver also traded lower due to falling demand by industrial units and coin makers.

MCXCOMDEX opened with positive notes at 3750.98 and traded down by 0.67 per cent at 3719.27. Commodities like Cardamom, Copper, Nickel,Zinc, Lead, Aluminium, Gold, Silver, Crude oil, Cotton, CPO futures were stood as top losers, lose by 2.20%, 1.76%, 1.75%, 1.53%, 1.48%, 1.20%, 0.90%, 0.88%, 0.88%, 0.38%, 0.27% respectively. On the other hand, Mentha oil, Natural gas futures were stood as top gainers , gained by 3.41%, 1.07% respectively.

Domestic equity market saw solid gains after exit polls suggested a landslide victory for the BJP-led NDA in the general elections. The BSE Sensex gained 1421.90 points or 3.75% to 39352.67, and the NSE Nifty ended with a gain of 421.10 point or 3.69% to 11828.25.