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02-May2019

Gold futures edge down on MCX

Gold futures edged down on MCX following weakness in global markets after the Federal Open Market Committee left its overnight funds rate in a range of 2.25% to 2.5% as expected. Fed Chairman Jerome Powell said the central bank's policy stance is appropriate right now and that they don't see a strong case for moving in either direction.

The contract for June delivery was trading at Rs 31458.00, down by 0.89% or Rs 282.00 from its previous closing of Rs 31740.00. The open interest of the contract stood at 12025 lots.

The contract for August delivery was trading at Rs 31640.00, down by 0.70% or Rs 222.00 from its previous closing of Rs 31862.00. The open interest of the contract stood at 4276 lots on MCX.


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