Precious Metals Preview: MCX Futures Under Check On Continued Gains In INR

Precious Metals Preview: MCX Futures Under Check On Continued Gains In INR

Nov 27, 2020 08:11 IST capital market

MCX Gold futures saw a hefty correction in the evening session yesterday as US markets were closed on Thanksgiving Day Holiday. COMEX Gold futures have moved up slightly from four and half month low under $1800 per ounce but overall mood remains choppy in the metal. COMEX Gold currently trades at $1805 per ounce, up 0.02% on the day. MCX Gold futures ended at Rs 48461 per 10 grams, down 0.11% on the day. The metal had edged up near Rs 48800 per 10 grams mark in intraday moves before the pullback. Local futures also eyed firm movement in the Indian Rupee. The Indian rupee stayed well supported as local stocks rallied. The local currency closed at 73.88 against the dollar, up 3 basis points on the day. INR is now hovering around two week high.

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