CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 27 SEPTEMBER 2019
Precious Metals Preview: Gold Stays Lax In Asia
Bullion
counter may trade with sideways bias. Gold traded flat early on Friday but the
metal was poised to end the week lower, as investors preferred the safety of
the dollar in the wake of political uncertainties in the United States. The
dollar was holding near multi-week highs against most major currencies, while
Asian shares were on course for a second straight weekly loss. Gold can face
resistance near 38000 while taking support near 37500 while silver can face
resistance near 46800 while taking support near 46100. A whistleblower report
released on Thursday said President Donald Trump not only abused his office in
attempting to solicit Ukraine’s interference in the 2020 U.S. election for his
political benefit but that the White House tried to “lockdown” evidence about
that conduct. China’s net monthly gold imports via Hong Kong in August surged
nearly 61%, after falling to their lowest in more than eight years in July, the
Hong Kong Census and Statistics Department data showed on Thursday. Gold
production in Russia for the first five months of this year rose to 101.44
tonnes from 92.56 tonnes in the same period a year earlier, Russia’s finance
ministry said on Thursday.
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