Gold Prices Steadied Above A Major Support Level On Monday As Growing Risks Of An Economic Recession Spurred Some Safe Haven Demand For The Yellow Metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop Spot gold rose 0.2% to $1,663.99 an ounce, while gold futures were flat around $1,672 an ounce by 20:31 ET (00:31 GMT). Prices of…
On Monday, the rupee lost some of its early gains against the dollar, settling practically level against the greenback as domestic equities offset the impact of a strong drop in global crude oil prices.
Forex brokers noted that a rising US dollar overseas and ongoing foreign fund outflows weighed on the domestic currency.
The rupee opened marginally higher against the dollar on the interbank foreign exchange market, at 76.48, then gained further ground to trade at 76.35. During the session, it fluctuated between a high of 76.35 and a low of 76.51.
The rupee eventually finished at 76.51 against the dollar, a 1 paisa decrease.
The global oil benchmark, Brent crude futures, fell 2.61 percent to USD 104.34 a barrel.
The 30-share BSE Sensex closed the day 84.88 points or 0.15 percent lower at 56,975.99, while the wider NSE Nifty dropped 33.45 points or 0.20 percent to 17,069.10.
The dollar index, which measures the strength of the greenback against a basket of six currencies, increased 0.43 percent to 103.37.
According to exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 3,648.30 crore.