CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : :04 OCTOBER 2019
Precious Metals Preview: Gold Hits One Week High Before Easing
COMEX
Gold futures saw an impressive rebound yesterday as a recovery from two months
low extended. Gold rose, hitting a one week high of $1525 per ounce and
currently trades at $1515 per ounce, flat on the day. The metal eased from
highs as the US equities edged up impressively amid bargain buying after heavy
losses in early moves. The risk appetite was sent to a toss earlier as Asian
stocks fell after the US opened a new front in its trade war with Europe.
Stocks in Japan and Australia tanked around 2% on the day. European markets
extended losses as well. Meanwhile, the sentiments are cautious today as
markets are waiting for the critical US nonfarm payrolls data which would be
released in the evening. MCX Gold futures ended up around 1% at Rs 38403 per 10
grams following a break above Rs 38K but should ease in early moves today.
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