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As on: Jun 27, 2019 05:52 AM
Gold Holds Just Above One And Half Week Low
16-Apr-19   13:17 Hrs IST
COMEX Gold futures fell near a one and half week low of $1285 per ounce yesterday but remained somewhat supported today as equities appeared tepid after recent rally. Global investors are likely to focus on a slowdown in growth rates across the world. IMF noted in its latest communiqué that the global expansion continues, but at a slower pace than anticipated in October 2018. Global growth projected to firm up in 2020, but risks remain tilted to the downside. These include trade tensions, policy uncertainty, geopolitical risks, and a sudden sharp tightening of financial conditions against a backdrop of limited policy space, historically high debt levels, and heightened financial vulnerabilities. This cautiousness in sentiments is expected to cap losses in Gold. A more than 2% fall in Bitcoin values could also support the yellow metal. The commodity currently quotes at $1288.55 per ounce, down 0.21% on the day. MCX Gold futures are trading at Rs 31818 per 10 grams, down 0.12% on the day. According to latest data, Gold imports spiked 40% to Rs 22742 crore over year in March 2019.

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