Commodity Tips : MCX Gold price is set to extend its losing spree

gold price today

MCX Gold extended Losses after breaking Rs.30,000. The metal slipped heavily yesterday due to global prices slipped following a rebound in US equities. US stocks rose following the modest pullback in last week. COMEX Gold has tanked all the more today as Asian equities edged up. The metal quotes at USD 1328.30 per ounce, down 0.62 percent on the day. MCX Gold ended down 1.10 % at Rs 29,930 per 10 grams yesterday and this break under Rs 30,000 levels should extend further today.

Meantime, the Indian rupee dropped further Versus the USD in early trades on Tuesday, 12 Sept 2017 as the dollar strengthened overseas. Gains in domestic equity markets capped some of the losses. The rupee opened lower at 63.98 /dollar against last close of 63.93 /dollar.

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