GOLD PRICES FALL AFTER TWO-DAY GAIN; SILVER TUMBLES

At the MCX, Gold futures for Dec 2019 contract was trading at Rs. 38460.00 per 10 gms, down by 0.10 %, after opening at Rs. 38526.00 per 10 gms , against a previous close of Rs 38497.00 per 10 gms. It touched the intra-day low of Rs. 38362.00 per 10 gms and high of Rs. 38545.00 per 10 gms.

Gold traded lower on Thursday due to profit booking by participants in tandem with fall in prices of the precious metal overseas. Silver also fell as investors reduced their positions even as the metal gained overseas.

MCXCOMDEX opened with positive note at 3867.49 and traded up by 0.24% at 3874.22. Commodities like Nickel, Mentha oil, Zinc, Lead, Copper, Natural Gas, Crude oil, Aluminium were stood as top gainers, gained by 1.25%, 1.07%, 1.04%, 0.61%, 0.56%, 0.38%, 0.19%, 0.11% respectively. On the other hand, Cardamom, Cotton, Silver, CPO, Gold futures were stood as top losers, lose by 3.97%, 0.36%, 0.34%, 0.20%, 0.10% respectively.

Domestic stock markets registered sharp losses on Thursday, continuing the downward movement a day after benchmark indices S&P BSE Sensex and NSE Nifty broke a six-day losing streak. At close , The Sensex index fell 297.55 points or 0.78% at 37880.40 and NSE Nifty benchmark down by 78.75 points or 0.70% at 11234.55 from the previous close. A selloff across sectors, led by banking and financial services shares, pulled the markets lower although buying in energy and infrastructure shares arrested the fall.