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Pre Session Commentary
Precious Metals Preview: Falling Equities Offer Good Support To Gold
22-May-20   09:17 Hrs IST

Falling equities are offering a good support to Gold. The metal eased yesterday on corrective selling as end user demand worries stayed in place. Losses were curbed though as weak economic data and mounting US-China trade concerns weighed on global stocks. Gold currently trades at $1727 per ounce, up 0.33% on the day. The US dollar index fell to a three week low in last session but is up from that mark and currently trades at $99.59, up 0.20% on the day. MCX Gold ended at Rs 46448 per grams, down 1.45% on the day as a slide under Rs 47K extended. The Indian Rupee rose after falling so far this week on early strength in local stocks. INR closed at 75.61 against the US dollar, rising 19 paise on the day.

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