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Gold futures up on positive domestic cues

Gold prices rose 0.02 per cent to Rs 34,717 per 10 gram in futures trade on July 30 as speculators extended exposure amid firm domestic cues. On the Multi Commodity Exchange, gold contracts for August delivery increased by Rs 8, or 0.02 percent, to Rs 34,717 per 10 gram in a business turnover of 11,279 lots. The precious metal to be delivered in October traded up by Rs 69, or 0.2 percent, to Rs 35,452 per 10 gram in a business turnover of…

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Gold steadies off 1-month peak on Sino-U.S. trade talk hopes

Gold steadied on Wednesday after retreating from a one-month peak in the previous session as Washington and Beijing decided to further their discussions on trade, soothing investor concerns around a full-blown trade war. FUNDAMENTALS – Spot gold was steady at $1,297.45 per ounce at 0136 GMT. – U.S. gold futures were also steady at $1,298 an ounce. – U.S. President Donald Trump on Tuesday called the trade war with China “a little squabble” and insisted talks between the world’s two…

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Gold steady on firmer dollar ahead of ECB policy meeting

Gold prices steadied on Thursday as dollar traded near its more than two-week high, while lacklustre appetite for riskier assets offered some support to the safe-haven metal ahead of European Central Bank’s (ECB) policy meeting due later in the day. Spot gold was down 0.1 percent at $1,284.59 per ounce, as of 0722 GMT. Earlier in the session, the bullion rose 0.1 percent to $1,288.34 per ounce. U.S. gold futures slipped 0.2 percent to $1,284.90 an ounce. The dollar index,…

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Where are crude oil and gold headed from here?

Two of the most important commodities from the Indian market perspective are oil and gold. The reasons are not far to seek. Crude oil has always had a negative correlation with India’s trade deficit, and hence, had a strong bearing on the rupee value. Secondly, gold was the best reverse proxy for the US dollar and gave a more practical approach to dollar value. Indian markets have traditionally preferred stable median oil prices and stable gold prices. Too low or…

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Gold prices steady post Fed rate hike

The US Federal Reserve raised interest rates on Wednesday, which was widely expected, and left its monetary policy outlook for the coming years largely unchanged.   COMEX Gold Price (Prev. Close) $ 1200.70 % Change 0.06% Gold price in India today (per 10gms) 30,625 % Change 0.10% In yesterday’s trading session, gold prices were down by more than 200 points and closed near 30,600 levels. MCX Gold prices are facing the resistance of its falling trend line at 30,850 levels…

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Technical outlook for commodity market – July 31, 2018.

Bullions View MCX gold for October contract is trading in a Falling Wedge pattern where recently prices had taken support at lower band around 29,800 and is inching higher. Once it breaks the upper band resistance of 30,050, we could see a sharp up move towards 30,300 followed by 30,500. On the other hand, if it breaches the lower band support of 29,775, gold prices could decline towards the 29,500 mark. However, bias remains positive for gold going forward. Energy…

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Gold inches up as euro gains against dollar

Gold prices inched up on Thursday as the euro rose to 2-week highs against the U.S dollar, with investors waiting for meetings of key central banks and the U.S.-North Korea summit all due next week. Spot gold was up 0.1 percent at $1,296.98 per ounce by 0359 GMT, while U.S. gold futures for August delivery were largely unchanged at $1,301.20 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, fell 0.1 percent to…

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Gold slips, but safe-haven demand keeps prices above $1,300

Gold prices eased on Friday on profit-taking, after breaking above $1,300 in the previous session when U.S. President Donald Trump’s decision to call off a meeting with North Korean leader Kim Jong Un triggered safe-haven buying. Spot gold was down 0.2 percent at $1,302.18 per ounce at 0312 GMT, after gaining nearly 1 percent in the previous session in its biggest one-day percentage rise since April 11. It remains on track for a weekly advance. U.S. gold futures for June…

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Higher gold prices to weaken jewellery demand growth

Higher gold prices and tightened credit availability are expected to weaken growth in jewellery demand by 2-4 per cent during 2018, a credit rating agency said on Monday. “The agency expects the jewellery demand growth to weaken by 2-4 per cent for CY2018 (Calendar year 2018), owing to higher gold prices and subdued financing environment. The industry continues to remain susceptible to the regulatory risks, which has affected both demand and supply,” ICRA said. However, over the medium to long…

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Gold is little changed near five-week low as higher dollar, bond yields weigh

Gold prices on Thursday were little changed after falling to their lowest in five weeks in the previous session, pressured by a stronger dollar, which held near more than three-month highs, and a rise in U.S. Treasury yields. Spot gold was up 0.05 percent at $1,323.66 per ounce at 0351 GMT, after falling by as much as 0.9 percent to $1,318.51 in the previous session, its lowest since March 21. U.S. gold futures gained 0.1 percent $1,324.7 an ounce. “Gold…

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