Extreme Stress In INR Keeps MCX Gold Afloat Around Rs 49500 Per 10 Grams

26 Sep 2022 , 05:21 PM

Gold futures stayed under stress today, falling to a fresh low in around 27 months as the US dollar index neared 114 mark. Asian markets tumbled with the Japanese Nikkei 225 index crashing around 2.66%. Deep losses were seen in other indices too. European shares saw a modicum of buying. Dow dropped to its lowest closing level in over a year; while the Nasdaq and the S&P 500 hit three-month closing lows on Friday. Risk appetite remains very much curtailed and Gold has been eying the strong surge in the US dollar over last few weeks. The metal currently quotes at $1647 per ounce, down 0.47% on the day. MCX Gold futures are trading at Rs 49512 per 10 grams, up 0.22% on the day as an extremely weak undertone in the Indian Rupee capped the downside. INR tested another fresh low near 81.70 per US dollar today.Powered by Commodity Insights