Gold Supported Ahead Of FOMC, WTI Crude Holds Above $39 Mark

Gold Supported Ahead Of FOMC, WTI Crude Holds Above $39 Mark

Sep 16, 2020 05:09 IST capital market

COMEX Gold futures stayed supported today after falling moderately in last session as traders eyed the outcome of US FOMC meet on Wednesday. COMEX Gold trades at $1975 per ounce, up 0.57% on the day. MCX Gold futures trade at Rs 51961 per 10 grams, up 0.37% on the day.
India’s Gold imports stood at Rs 27647 crores in August 2020, up by a massive 184% compared to August 2019. Gold imports in April-August 2020 are down by 54% though. India’s Silver imports in August 2020 were at Rs 290 crores, down 85% compared to same month last year. Total Silver imports in April-August 2020 fell by 57.50% to 5474 crores.

WTI Crude oil saw excellent gains today as rising equities boosted the commodity after a sharp spurt last night. WTI Crude jumped 3% yesterday as Hurricane Sally, a category two hurricane, threatened both Gulf of Mexico operations. WTI Crude oil futures are currently trading at $39.13 per barrel, up 2.22% on the day to hit its one week high. MCX Crude soared too, currently trading at Rs 2879 per barrel, up 1.80% on the day. Oil traders are now focusing on the weekly crude inventories data from US Energy Information Agency (EIA) due to be released later tonight.

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