Gold prices rose after hitting a 7-week low US dollar retreats

Price of Gold advanced on Wednesday 4th October 2017, after hitting a 7-week low in the last session, sustained as the USD pulled back from 45-days high against a basket of currencies. At the morning hours, spot gold had risen 0.3% to USD 1,275.34 per ounce and touched its lowest since middle August at USD 1,267.76 on Tuesday.

As per economic point of view, the price of Gold has steadied in last one day, with a hindering US dollar contributing to the move. Further, Long liquidation throughout last fourteen days has put gold on a more sound footing. However, the dollar on Wednesday shed gains against a basket of main currencies over assumption that Donald Trump’s choice for the next US Fed Reserve chair may not be so aggressive against previously forethought.

Among other precious metals, silver rose 0.8% to USD 16.72 an ounce. Palladium jumped 0.7% to USD 921 an ounce while Platinum was 0.5% higher at USD 912 an ounce.

Meantime, Indian rupee made stronger against the USD ahead of the RBI bi-monthly policy outcome due late hours on Wednesday. The rupee opened at 65.34 per USD and was trading at 65.35 v/s dollar, up 0.24% from its last day’s close of 65.50. So forth this year, the domestic currency has gained 4%, while FPIs have bought USD 5.51 billion in equity market and USD 20.05 billion in debt market.

High Pace on Silver & Crude Oil, but Sensex Nifty Moving Low

In the first trading session of the week, Rupee opened at 66.90 with the loss of 13 paise against the dollar. Indian Stock Market made a nice opening in morning session, but couldn't hold the hike for much longer and dropped very soon. Currently, the market indexes are moving in negative zone with minor loss. Sensex is trading at 25414.77 with the loss of 74.80 points and Nifty is trading at 7791.05 with the loss of 23.85 points. In current market, most of the Bse sectors are moving in negative zone except only few sectors which are Consumer Durables, Healthcare, IT, TECk and Bse Midcap. 

In Mcx Commodity Market, Gold, Silver, Crude Oil, Aluminium & Mentha oil are moving up with high pace while other base metals are trading low. Currently, Gold Live at 30123 with the hike of 89 points, Silver Live at 41373 with the hike of 399 points and Crude oil Live at 3129 with the lead of 32 points, while Natural Gas is trading at 139 with the loss of 2.20 points. The Ncdex Commodity Market is showing the average movements. Charjddel, Sybeanidr, Cocudakl and Sugarm up in the green zone, while Tmcfgrnzm, Dhaniya, Jeeraunjha and Barleyjpr are trading in negative zone. 

Gold Silver Down, Indian Market Moving Slow After Holidays

After a long break, finally Stock Market opened on Monday with green sign, but very soon the market received an unexpected fall down. Currently, Sensex is moving at 25277.19 with the loss of 60.37 and Nifty is moving at 7702.40 with the loss of 14.10 points. After the worldwide analysis, most of the Global Market seems to falling down. In global market, Japanese Index Nikkei 225 is trading at 16983.33 with the loss of 19.42 points and Hong Kong's Index Hang Seng is trading at 20345.61 with the loss of 269.62 points. BSE Auto, Oil & Gas, IT & TECk sectors are in positive zone and except them all others are facing loss. With the hike of 1.95% the stock of BPCL has climbed up to the level of 885.40 and moving as the top gainer today, following by Ambuja Cements, Adani Ports and Kotak Mahindra. In MCX Commodity Market, Gold Silver and Natural Gas contracts are moving with loss and except them all other Base Metals commodities are trading on positive side. Gold Live at 28377 with the loss of 222 points, Silver is at 36572 with the loss of 97 points whether Crude oil is live at 2673 with the hike of 15 points.

Monday Morning Stock Updates with Market News

Indian Stock Market gave a nice opening in the Monday Morning Session. But after a surprising performance on Friday, Mcx Commodity market opened very poorly today. With the hike of 152.76 points Sensex is live at 25105.50 and with the rise of 44.20 points Nifty is live at 7648.55 level. In BSE, except IT and TECk all the sectors have received the positive changes. Whether, Gold live at 29131 with the loss of 225 points, Silver Live at 37756 with the loss of 387 points and Crude oil live at 2758 with the loss of 6 points. 

In Hot Stock Updates- Aurobindo Pharma has got approval from USFDA for its Osteoporosis Medicine. Aurobindo Pharma Stocks seems moving upwards after this news. Government has given approval for the FDI Investment in NBFC Companies. After the announcement in the budget the approval is given for 25 sectors. This news will give positive impact on finance companies like Magma Finance, M&M finance and Repco Homes.