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MTECHTIPS;- Gold price today: Yellow metal trades lower amid uncertainty over US-China trade deal

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MTECHTIPS;- Gold price today: Yellow metal trades lower amid uncertainty over US-China trade deal

 

 

MTECHTIPS-Gold prices in futures trade erased early losses on October 1, continuing downtrend amid rising uncertainty over the US-China trade deal. The yellow metal’s December futures traded at Rs 36,885 per 10 gram, down by Rs 28 or 0.08 percent on the MCX at 1305 hours IST. In the international market, US gold futures traded at $1,468.30 an ounce, down by 0.3 percent from the previous close. In the previous session, gold prices slipped to a seven-week low and broke the crucial support of $1,492 and made a low of $1,472 at Comex division. At MCX, after breaching a support of Rs 37,800 per 10 gram, the metal crashed and tested a low of Rs 37,280. Gold and Silver prices crashed in the previous session as the dollar index, the basket of six major currencies, reached a fresh high of the year. Dollar index crossed 99 for the first time this year and triggered the sell button for both precious metals. Silver prices rebounded after testing five-week low at Rs 43,975 per kg. Silver December futures traded at Rs 44,283 per kg on the MCX, up by Rs 164 or 0.37 percent at 1305 hours IST. “Gold could test support of $1,464/Rs 37,000 



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