CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : :01 OCTOBER 2019
Precious Metals Preview: Gold Melts as Selling Accelerates Under $1500 Mark
COMEX Gold futures extended losses under $1500 per ounce and
tested a three month low o $1470 per ounce. The metal fell nearly 2% in
intraday moves and heavy selling pressure stayed visible as a decline from
three-week highs extended on the last trading session of the quarter. Gold
failed to see any buying as concerns also remained in place about Indian retail
market demand. The COMEX Gold futures are currently trading at $1475 per ounce,
almost unchanged on the day right now. MCX Gold futures tumbled 2 2.14% to
close at Rs 37331 per 10 grams as a slide under Rs 38K extended. US dollar
index continued to stay firm after a recent string of positive economic data. The
index surged near 99.50 - its highest level in more than 2 years.
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