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As on May 20, 2019 12:00 AM Your results on : End Session    
MCX Gold Plummets 1% As Rupee Soars
20-May-2019 (18:09)
MCX Gold slipped sharply as the Indian Rupee surged today. The rupee soared by 48 paise to the 69.74 against the US dollar after hitting an intraday high under 69.50. Domestic stocks logged strong gains on first trading day of the week. The Sensex and the Nifty, both, settled at record high. Sentiment was boosted after most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls. The Sensex moved above the psychological 39,000 level after regaining the psychological 38,000 mark in opening trade. This massive surge can also weigh on the local Gold prices. The MCX Gold futures are currently trading at Rs 31482 per 10 grams, down 1% on the day while COMEX Gold lingered around $1275 per ounce amid a dull session of trade. The US dollar index edged up marginally after hitting two week high above 98 on Friday. The sentiment is still well supported for the dollar on poor economic outlook for Eurozone. Germany's economy is likely to lose momentum in the second quarter, according to the monthly report, published by Bundesbank on Monday.

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