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Gold prices steady amid cautious mood, focus shifts to Fed

Gold prices were little changed on Wednesday as investors maintained a cautious stance ahead of the conclusion of U.S. Federal Reserve’s two-day meeting, where policymakers are expected to cut interest rates. FUNDAMENTALS ** Spot gold was steady at $1,501.91 per ounce, as of 0100 GMT. ** U.S. gold futures were down 0.3% at $1,508.8 per ounce. ** The dollar traded near a seven-week high versus the yen as oil markets recovered from a supply shock, while global stocks stood little…

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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 gains on tepid dollar; focus on U.S.-China talks

Gold gained on Thursday as the U.S. dollar traded close to its one-week low posted in the previous session, while investors awaited progress on the ongoing Sino-U.S. trade negotiations after reports showed that both sides were nearing a deal. Spot gold rose 0.2 percent to $1,292.24 per ounce as of 0537 GMT. U.S. gold futures firmed 0.1 percent at $1,296.60 an ounce. “One of the key issues would be the China-U.S. trade negotiations. There is a lot of optimism around…

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Oil prices edge higher, but future demand concerns cap gains

Oil prices crept up on Wednesday, extending the previous session’s rise, but gains were kept in check amid growing fears over the impact of a global economic slowdown on demand. Brent was up by 17 cents, or 0.3 percent, at $68.14 by 0311 GMT, reversing earlier losses of a similar magnitude. On Tuesday, the global benchmark rose 76 cents to $67.97 a barrel, not far below its year-to-date high of $68.69, reached on March 21. U.S. crude futures added 9…

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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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Gold stays near 10-month peak; Palladium jumps to record high

Gold prices hovered near 10-month highs on Tuesday as optimism around U.S.-China trade discussions dimmed the dollar’s appeal, while palladium struck a record high on supply concerns. Spot gold slipped 0.2 percent to $1,323.81 per ounce as of 0448 GMT. The metal had touched $1,327.64 an ounce in the previous session, its highest since April 25. U.S. gold futures rose 0.4 percent to $1,326.8 an ounce. A new round of talks between Beijing and the United States to resolve their…

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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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MCXCCL becomes a member of Asia-Pacific Central Securities Depository Group (ACG)

Multi Commodity Exchange Clearing Corporation Limited (MCXCCL), a wholly owned subsidiary of Multi Commodity Exchange of India Ltd. (MCX) became a member of The Asia-Pacific Central Securities Depository Group (ACG) at its 22nd Annual General Meeting held in Colombo, Sri Lanka last week. The Asia-Pacific Central Securities Depository Group (ACG) incorporated in 1997, is an association of securities depositories and clearing organizations in the Asia Pacific region with the objective to facilitate the exchange of information, to promote mutual assistance…

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Gold rises to highest since mid-2018 on global growth woes

Gold prices climbed to a 6-1/2 month peak, moving closer to the key $1,300 an ounce level on Thursday, as concerns about economic slowdown gripped global markets and fuelled demand for safe-haven bullion. Spot gold gained 0.5 percent to $1,290.60 per ounce at 11:28 a.m. ET (1628 GMT), having earlier touched $1,292.32, its highest since June 15. “Gold is overbought on most measures and needs to consolidate but with the speculative long still building, the market will be looking for…

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