MCX Gold dips on firm domestic equities

Globally, gold prices inched up amid bleak economic data and expectations of easing monetary policy by central banks.

Sep 09, 2019 06:09 IST India Infoline News Service

Domestic gold prices declined on Monday as equities traded higher.

Globally, gold prices inched up amid bleak economic data and expectations of easing monetary policy by central banks. Chinese exports fell unexpectedly in August.

Further, US Fed Reserve Chairman Jerome Powell said at Zurich that he would "act as appropriate" to support US economic growth. 

Spot gold was up at $1,509.45/ounce, according to Reuters.

Back home, MCX Gold Futures were down to Rs38,473, down 0.21%, owing to a stronger rupee and firm equities.

Silver continued to slide with no fresh participation in ETFs after the metal hit record high prices.

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