CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 30 SEPTEMBER 2019
Precious Metals Preview: Gold Eases Near $1500 Level
COMEX Gold futures stayed lax
last week amid a firm undertone in US dollar and demand worries in India. COMEX
Gold slipped near one and half week low of $1493 per ounce before ending just
above $1500 per ounce. MCX Gold futures also fell under Rs 37400 per 10 grams
before witnessing a modest recovery. The US dollar index continued to gain
after testing two weeks low and soared to a three week high above 99 levels. BK
Goenka, president, ASSOCHAM has said that development of gold as an organized
sector can give rise to opportunities in skill development, employment
generation, technological up-gradation, exports and value addition.
Highlighting that various schemes for mobilization of idle gold holdings have
been implemented by the Government and RBI in the past, but with little
success, Goenka said, Attempts to mobilize gold under various schemes to have not
evoked the desired response. This calls for reviewing the rules to make them
more investor-friendly and cut down the transaction costs involved.
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