CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 05 SEPTEMBER 2019
Precious Metals Preview: MCX Gold Approaches Rs 40000 Mark
COMEX Gold futures rose further yesterday. COMEX Gold hit a
fresh six-year high of $1566 per ounce and currently trades at $1553 per ounce,
down 0.45% on the day. The metal surged amid rising equities yesterday,
indicating that current rally is based upon strong impulses at the fundamental
level and is not just linked to the safe haven edge of the metal. MCX Gold
futures approached the watershed Rs 40000 per 10 grams mark and closed at Rs
39823 per 10 grams, up 1% on the day. The local traders are likely to watch the
Indian rupee today after the INR recovered some lost ground on Wednesday.
INR added 27 paise to close at 72.12 against the US dollar in line with a
recovery in domestic stock markets.
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