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Commodity Detailed News

Precious Metals Preview: MCX Gold Breaks Well Above Rs 40K
24-Jan-20   08:54 Hrs IST
COMEX Gold futures hit around two-week high on worries surrounding the spread of the coronavirus in China. However, the prices moderated after the World Health Organization said it is still too early to declare the outbreak a public health emergency of international concern. US equities saw a substantial rebound, capping upside in Gold and the metal quotes at $1560.75 per ounce, down 0.30% on the day. Traders also remain worried about Indian demand. MCX Gold futures closed at Rs 40237 per 10 grams in last session, up 0.81% on the day. Local futures were supported as the Indian Rupee eased a little on strength in the US dollar overseas. The INR closed at 71.26 per US dollar, falling 6 paise on the day.

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