CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 11 SEPTEMBER 2019
Precious Metals Preview: Gold under $1500 Levels in Asia
COMEX Gold futures are witnessing some corrective action now
as traders are worried about the real demand after prices soared to seven-year
high above $1560 per ounce. The metal fell under $1500 per ounce and tested a
near one month low of $1492 per ounce yesterday. The counter quotes at $1498
per ounce, almost unchanged on the day. Some buying is visible at lower levels
though as equities are displaying a muted tone. Gold traders are also looking
at the possibility of further monetary stimulus from the major central banks. MCX Gold
futures closed at Rs 38270 per 10 grams yesterday, down 0.50% on the day. The
counter tested a low near Rs 38200 level in intraday moves.
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