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Gold was steady on Friday ahead of key US jobs data later in the day, with prices curbed as the US dollar stood firm near a seven-week high.
Spot gold was little changed at $1,268.52 an ounce at 0049 GMT. It shed 0.5 per cent in the previous session.
US gold futures for December delivery were down 0.2 per cent at $1,270.90 per ounce.
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Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday.
But the prospect of extended oil production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia helped support prices.
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Oil Marketing companies (OMCs) emerged as top gainers in the Nifty50 pack on Wednesday after the government on Tuesday cut excise duty on petrol and diesel by Rs 2 per litre each to moderate the relentless rise in fuel prices witnessed for the last three months.
Shares of Hindustan Petroleum Corporation BSE 1.82 % (HPCL BSE 1.82 %), Indian Oil Corporation BSE 0.61 % (IOC BSE 0.61 %), Bharat Petroleum Corporation Ltd BSE 0.15 % (BPCL BSE 0.15 %) were trading higher by 3.03 per cent, 1.96 per cent and 1.44 per cent at Rs 447.75, Rs 414.50 and Rs 485.75, respectively.
Govt of India has reduced Basic Excise Duty rate on petrol and diesel by Rs 2 per litre. For Any More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Gold prices drifted lower by Rs 153 to Rs 28,958 per 10 grams in futures trade today as participants lightened their positions, largely in tandem with a weak overseas trend. In futures trading, gold for delivery in far-month December was trading Rs 153 or 0.52 per cent down at Rs 28,997 per 10 grams on the Multi Commodity Exchange with a business turnover of six lots. The metal for delivery in October too fell by Rs 122 or 0.42 per cent to Rs 28,958 per 10 grams in 311 lots. Analysts said trimming of positions by traders, tracking a weak trend in the overseas markets as data on retail sales and US manufacturing came in better than expected and easing geopolitical tensions between North Korea and the US undercut haven demand for the precious metals, mainly weighed on gold futures. Globally, gold lost 0.82 per cent to USD 1,271.10 an ounce in New York yesterday.
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Benchmark indices were trading strong in the afternoon session, with the Nifty now hovering around 10,000-mark.
The Sensex was up 103.89 points at 32332.16, while the Nifty was up 31.80 points at 9996.35. The market breadth was narrow as 1366 shares advanced against a decline of 1169 shares, while 154 shares were unchanged.
Tata Steel, Sun Pharma and Vedanta gained the most on both indices, while Axis Bank and Asian Paints lost the most. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
The Securities and Exchange Board of India (Sebi) is creating three categories for agricultural commodities and will introduce limits that investors can hold for each one to try to reduce price fluctuations.
Commodities will be classed as sensitive, broad or narrow, based on the frequency of government interventions in their markets and overall availability, Sebi said on Tuesday.
The new position limit for sensitive commodities will be 0.25% of deliverable supply, Sebi said in a circular. It will be 0.5% for narrow commodities and 1% for broad commodities, it added. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Gold was steady on Friday ahead of key US jobs data later in the day, with prices curbed as the US dollar stood firm near a seven-week high.
Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday.
Oil Marketing companies (OMCs) emerged as top gainers in the Nifty50 pack on Wednesday after the government on Tuesday cut excise duty on petrol and diesel by Rs 2 per litre each to moderate the relentless rise in fuel prices witnessed for the last three months. 
Gold prices drifted lower by Rs 153 to Rs 28,958 per 10 grams in futures trade today as participants lightened their positions, largely in tandem with a weak overseas trend. In futures trading, gold for delivery in far-month December was trading Rs 153 or 0.52 per cent down at Rs 28,997 per 10 grams on the Multi Commodity Exchange with a business turnover of six lots. The metal for delivery in October too fell by Rs 122 or 0.42 per cent to Rs 28,958 per 10 grams in 311 lots. Analysts said trimming of positions by traders, tracking a weak trend in the overseas markets as data on retail sales and US manufacturing came in better than expected and easing geopolitical tensions between North Korea and the US undercut haven demand for the precious metals, mainly weighed on gold futures. Globally, gold lost 0.82 per cent to USD 1,271.10 an ounce in New York yesterday.
The Sensex was up 103.89 points at 32332.16, while the Nifty was up 31.80 points at 9996.35. The market breadth was narrow as 1366 shares advanced against a decline of 1169 shares, while 154 shares were unchanged.
