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As on: Sep 22, 2019 09:35 PM
Gold Sees Flat Moves, Dollar Index Jumps Near 98 Level
17-May-19   18:04 Hrs IST
COMEX Gold is holding on after recent losses following a sharp tumble in leading cryptocurrency Bitcoin. Bitcoin, which had hit an 11 month high of $8300 earlier this week, tumbled more than 8% today to quote around $7100 mark. This protected Gold and the metal currently trades flat around $1285 per ounce. The MCX Gold futures are trading at Rs 31955 per 10 grams, down 0.07% on the day. COMEX Gold eased yesterday, as the dollar strengthened after the release of strong economic data from the United States. Rising equities also hurt the sentiments. The yellow metal currently trades at $1285 per ounce, down marginally on the day. MCX Gold ended at Rs 31975 per 10 grams, down 0.88% on the day. The US dollar index, which has shown a good recovery this week, edged up to almost 98 today - its highest level in nearly two weeks on a raft of strong economic cues. This can cap major upside in Gold.

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