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Mid Session Commentary
Modest Gains In Gold
17-Jan-20   14:02 Hrs IST

COMEX Gold futures gained from two week low yesterday as global stocks saw a muted response to phase one US-China trade deal. However, US equities hit record highs, capping gains in Gold. The COMEX Gold futures are currently trading at $1555 per ounce, up 0.30% on the day. MCX Gold futures are trading at Rs 39783 per 10 grams, up 0.24% on the day. Gold might not extend the gains much though as Indian bullion demand stays tepid. India's Gold imports stood at Rs 17564 crore in December 2019, down 3.30% compared to December 2018. In April-December 2019, the total imports stood at Rs 161924 crore, down 5.83%. Silver imports fell by a massive 66.69% on year ago basis to Rs 779 crore in December 2019. Silver imports in April-December 2019 also tumbled 25.52% to Rs 16085 crore.

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