By Asmita Pant IST (Printed)
Mini
MCX gold October futures fell 0.3 p.c to the touch the intraday low of Rs 51,436 per 10 grams. White metallic future, fell 1.4 p.c to Rs 55,648 per kilogram.
Home gold costs prolonged losses on Friday amid fall in home equities. World gold benchmarks hit three-week low amid price hike fears and powerful greenback.
MCX gold October futures fell 0.3 p.c to the touch the intraday low of Rs 51,436 per 10 grams. White metallic future, fell 1.4 p.c to Rs 55,648 per kilogram.
Ravindra Rao, VP- Head Commodity Analysis at Kotak Securities stated, “Gold has corrected sharply after failing to construct on positive factors above $1800/oz degree and should stay underneath stress as US greenback holds agency regardless of ongoing debate about Fed’s financial tightening”
Manoj Kumar Jain, Head-Commodity and Foreign money Analysis at Prithvi Finmart, suggests promoting gold round Rs 51,800 for a goal of Rs 51,380 with a cease loss at Rs 52,020.
Indian fairness benchmarks traded in purple amid combined cues from international markets. The rupee edged increased to 79.75 towards the US greenback.
The greenback index — which gauges the power within the buck towards six friends — rose 0.2 p.c.
