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    Gold price today: Yellow metal falls below Rs 52,000 as global investors await Jackson Hole symposium for cues

    Gold price today: Yellow metal falls below Rs 52,000 as global investors await Jackson Hole symposium for cues

    Gold price today: Yellow metal falls below Rs 52,000 as global investors await Jackson Hole symposium for cues
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    By Asmita Pant   IST (Published)

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    MCX gold October futures fell 0.5 percent to touch the intraday low of Rs 51,446 per 10 grams. White metal future, however, claimed 0.4 percent to Rs 55,595 per kilogram.

    Domestic gold prices extended losses on Friday amid gains in domestic equities. Global gold benchmarks remained unchanged after falling on Thursday ahead of the Jackson Hole symposium.
    MCX gold October futures fell 0.5 percent to touch the intraday low of Rs 51,446 per 10 grams. White metal future, however, claimed 0.4 percent to Rs 55,595 per kilogram.
    Ravindra Rao, VP- Head Commodity Research at Kotak Securities said, "Gold has inched up after taking support near $1750/oz however a sharp upside is unlikely as Fed is likely to maintain support for continuing rate hikes with inflation still out of control."
    Dr. Ravi Singh, vice President and head of Research, Share India sees a buy zone in MCX gold futures above Rs 51,800 for a target of Rs 52,000, and a sell zone below Rs 51,550 for a target of Rs 51,200.
    Amit Khare, AVP- Research Commodities, Ganganagar Commodity Ltd said that bullions charts are looking positive. "Momentum Indicator RSI is also indicating the same," Khare said.
    Indian equity benchmarks — NSE Nifty and BSE Sensex — made a gap-up start on the last trading day of the week tracing positive cues from global markets. The rupee remained largely unchanged at 79.87 against the US dollar.
    The dollar index — which gauges the strength in the greenback against six peers — rose 0.1 percent.
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