नवीनतम
Gold rebounds Rs 572 to Rs 1,09,624/10 g
NEW DELHI [Maha Media]: Gold prices snapped their three-day losing streak and rebounded by Rs 572 to Rs 1,09,624 per 10 grams in the domestic futures market on Friday driven by value buying and firm global cues after the US Federal Reserve's rate cut.
On the Multi Commodity Exchange (MCX), gold futures for October delivery climbed Rs 572 or 0.52 per cent to Rs 1,09,624 per 10 grams in a business turnover of 12,685 lots. Similarly, the December contract appreciated Rs 516 or 0.47 per cent to Rs 1,10,650 per 10 grams.
"Gold price witnessed high swings, as after recording some profit booking, a quick recovery was seen in the session. The US Federal Reserve resumed rate cuts and opened the door to further easing, but tempered its message with warnings of sticky inflation, sowing doubt over pace of future easing," said Manav Modi, Analyst – Precious Metal -Research, Motilal Oswal Financial Services Ltd.
