MCX GOLD TREND :- Spot gold prices declined around 0.4 percent on Thursday on the back of a stronger dollar coupled with choppy sentiments in the global markets. Additionally, fall in crude oil prices also affected the inflation-led demand for gold yesterday. The yellow metal touched an intra-day low of $1627/oz and ended its trading session at the level of $1642/oz on Thursday. However, MCX Gold April contract rose around 0.2 percent on account of a weaker Rupee and hit an intra-day high of Rs27,937/10 gms yesterday
MCX CRUDE OIL TREND :- Nymex crude oil prices declined sharply around 1.8 percent on Thursday on the back of unfavorable economic data from the Euro one front and China. This increased worries over global economic growth and in turn escalated global oil demand concerns which also acted as a negative factor for oil prices. Crude oil prices touched an intra-day low of $104.50/bbl and closed at $105.40/bbl in yesterday’s trading session. On the MCX, oil prices declined by 0.5 percent and closed at Rs. 5418/bbl after touching an intra-day low of Rs.5401/bbl on Thursday.
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