CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 26 SEPTEMBER 2019
Precious Metals Preview: Gold Sees Hefty Correction, MCX Futures Crash Well Under Rs 38K
Gold saw a hefty correction
yesterday. COMEX Gold futures soared to a three week high above $1540 per ounce
on formal impeachment inquiry against US President Donald Trump. However,
rising risk appetite on a likely US-China trade deal pulled the metal down
nearly 30 dollars in intraday moves. The US President Donald Trump said that a
U.S.-China trade deal could happen sooner than expected, which offset concern
about a congressional impeachment inquiry against Trump, along with weakening
global economic data. The yellow metal is currently trading at $1516 per ounce,
down 0.30% on the day. MCX Gold futures also ended lower at Rs 37590 per 10
grams, down 1.36% on the day as a slide under Rs 37000 per 10 grams extended.
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