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Commodity Mantra Morning Update: Gold, Oil steady, Base Metals trade mixed

Gold On Wednesday, gold remained steady as China preferred to wait for Trump impeachment before signing an interim trade deal. Spot Gold was trading up at $1,473.20 whereas Comex Gold Future was trading down 0.01% at $1,474.15/ounce.   MCX gold price has shown positive momentum from lower levels last session and closed at 38,205. Gold price has given breakout of horizontal channel at 38,070 levels on the hourly chart. Gold price has given breakout of its falling trend line at…

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Commodity Mantra Morning Update: Gold, Crude down, Base Metals trading mixed

Gold On Tuesday, Gold prices slipped lower as trade deal optimism kept safe heaven investment less attractive. Spot Gold was trading down at $1,5105.45 whereas Comex Gold Future was trading down 0.24% at $1,507.35/ounce.   MCX gold price has shown negative momentum from higher levels last session and closed at 38,472 levels. Gold price has faced resistance of its falling trend line at 38,600 levels on the hourly chart. Gold price has faced strong resistance of its horizontal trend line…

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Commodity Mantra Morning Update: Gold dips, oil up and base metals trade mix ahead of global economic data

Gold On Monday, Gold prices dipped on the back of strong economic data from US and China. Spot Gold was trading down at $1,513.21 whereas Comex Gold Future was trading up 0.27% at $1,515.35 per ounce.   MCX gold price has shown negative momentum from higher levels last session and closed at 38,318 levels. Gold price has faced resistance of its falling trend line at 38,500 levels on the hourly chart. Gold price has faced resistance of its horizontal trend…

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Gold up 1% as attack on Saudi facilities boosts safe-haven assets

Gold gained 1% on Monday after attacks on oil facilities in Saudi Arabia fueled concerns of a further escalation in Middle East tensions and pushed investors toward safe-haven assets. Spot gold climbed 1% to $1,503.31 per ounce.  U.S. gold futures settled up 0.8% at $1,511.50. “The Saudi Arabian situation is driving gold prices higher as people are looking for havens, (watching out) for any negative fallout, both economic and political,” said George Gero, managing director at RBC Wealth Management “Gold…

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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 dips on firmer dollar, profit-taking; focus on ECB outcome

Gold prices eased on Thursday as the U.S. dollar hovered near multi-week highs, while some investors locked-in profits ahead of major central bank meetings this month. The European Central Bank is meeting later in the day, followed by the U.S. Federal Reserve next Tuesday-Wednesday. Spot gold was down 0.2% at $1,422.80 per ounce, as of 0303 GMT. U.S. gold futures were down 0.1% at $1,422.90.   “From last three days, gold prices have been range-bound. Some money managers are starting…

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OMC stocks climb as crude oil price drops; IOC gains 3%

Shares of Oil Marketing companies (OMCs) extended gain in the morning trade after crude oil prices fell over concerns of weakening global demand in oil markets. The BSE Oil & Gas index rose ~1% at 14,218 led by IOC, IGL, GSPL and ONGC. Shares of Indian Oil jumped 3%, followed IGL, GSPL, ONGC, HPCL and Reliance, which gained 1% each. Crude oil price fell on Tuesday on concerns that the Sino-US trade dispute might drag on for a while, even…

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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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MCX stock soars 4.5% after PAT rises 78% in Q4FY19

Multi Commodity Exchange of India Ltd (MCX), India’s largest exchange in the commodity derivatives segment, reported 78% increase in its March quarter net profit at Rs60.95cr against Rs34.15cr logged in the same period last year. Its total income increased by 15% to Rs110.80cr from Rs96.58cr over the corresponding quarter ended March 31, 2018. While the operating income registered a growth of 12% to Rs79.14cr from Rs70.58cr in corresponding Q4FY18. EBITDA for the quarter ended March 31, 2019 increased by 16% to…

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Gold firms on weak German data, strong dollar caps gains

Gold prices edged up on Thursday as weak data from Germany and a dip in equities raised flags about the pace of global economic growth, while a firm dollar curbed further gains for the metal. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe’s largest economy, leaving domestic demand to support slowing growth. Spot gold was up 0.1 percent at $1,276.19 per ounce, as of 0335 GMT. U.S.…

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