GOLD PRICES TRADED FLAT ON LACK OF DIRECTIONAL CUES

At the MCX, Gold futures for Oct 2019 contract was trading at Rs. 37515.00 per 10 gms, down by 0.45 %, after opening at Rs. 37714.00 per 10 gms , against a previous close of Rs. 37686.00 per 10 gms. It touched the intra-day low of Rs. 37438.00 per 10 gms and high of Rs. 37714.00 per 10 gms.

Gold prices remained under pressure for the fourth day in Indian markets today. Gold prices were trading flat with a negative bias on September 20 after the US Federal Reserve gave no indication of further cuts. Silver has suffered higher losses than gold over the past few days.

MCXCOMDEX opened with flat at 4006.47 and traded down by 0.08% at 4003.27. Commodities like Nickel, Crude oil, Cotton, Lead were stood as top gainers, gained by 1.54%, 0.19%, 0.15%, 0.10% respectively. On the other hand, CPO, Gold, Silver, Aluminium, Copper, Mentha oil, Natural Gas, Zinc futures were stood as top losers, lose by 1.50%, 0.95%, 0.45%, 0.36%, 0.32%, 0.29%, 0.23%, 0.11%, 0.08% respectively.

Indian stock markets today surged the most in about 10 years on expectations of higher corporate profits after the government slashed corporate tax rates. The Sensex rose 1921.15 points or 5.32% to close at 38014.62 while Nifty surged 5.32% or 569.40 points to 11274.20.