MCX Gold Eyes Firm Undertone In Rupee

COMEX Gold stayed supported around $ 1300 per ounce levels but the local Gold slipped amid a firm undertone in the Indian Rupee. MCX Gold futures are currently trading at Rs 30980 per 10 grams, down 0.21% on the day. The Indian Rupee stayed supported today after hitting a one month high as strong cues from local equities buttressed the sentiments. The NSE USD/INR futures for June are currently hovering at 67.20, down 0.17% on the day. The INR is hovering around 67.05 mark in global markets, adding marginal gains though the undertone remains positive. The US dollar index is trading at 93.72, down 0.14% on the day. Meanwhile, the local equities extended their recent gains. Sensex regained the psychologically important 35,000 mark. Traders are keeping a close watch of the central banks policy decision later today. The Reserve Bank of Indias (RBI) Monetary Policy Committee (MPC) began the second bi-monthly monetary policy meeting on Monday, 4 June 2018. The resolution of the MPC will be unveiled at 14:30 IST today, 6 June 2018.