Gold slips further post Fed rate cut

The fall is on the back of softening crude prices and Fed rate cut.

Sep 19, 2019 08:09 IST India Infoline News Service

Gold Oct futures fell for the third straight day to trade around Rs 37,596/10g on the MCX, down 0.7%.

Silver Dec futures also softened to trade below Rs 46,200/kg.


On Wednesday, gold ended about 0.5 per cent lower.

The fall is on the back of softening crude prices.

Globally, spot gold was 0.3% at $1,489/ounce slipping below the key $1,500 level after the US Fed cut rates by 25bps yesterday. Chairman Powell said he would be cautious regarding a further cut in borrowing costs.

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