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Gold futures retreats from record highs; declines Rs 606 to Rs 1,07,122/10 g on profit-booking

New Delhi, Sep 8 (PTI) Gold prices retreated from record highs by declining Rs 606 to Rs 1,07,122 per 10 grams in the domestic futures market on Monday, as investors booked profits in tandem with a weak trend in the international markets. On the Multi Commodity Exchange (MCX), gold futures for October delivery declined Rs 606 or 0.56 per cent to Rs 1,07,122 per 10 grams. It had surged to a lifetime high of Rs 1,07,807 per 10 grams on Friday. Similarly, the precious metal futures for December delivery slipped Rs 612 to Rs 1,08,176 per 10 grams. Silver too

Gold hovers near record high on US rate-cut prospects

Sept 8 (Reuters) – Gold held firm near an all-time high on Monday, inching closer to a key $3,600 level, bolstered by mounting expectations of a U.S. Federal Reserve rate cut this month following a weaker-than-expected jobs report last week. Spot gold was little changed at $3,583.41 per ounce, as of 0454 GMT. Bullion rose to a record high of $3,599.89 on Friday. U.S. gold futures for December delivery fell 0.8% to $3,624. “The main driver is U.S. jobs data and the expectations now that the Fed could cut by 50 basis points in September. It’s a marginal chance but

Stock markets rally in early trade tracking firm global trends amid hopes of rate cut by US Fed

Mumbai, Sep 8 (PTI) Benchmark equity indices Sensex and Nifty rallied in early trade on Monday tracking a firm trend in global markets amid hopes of a rate cut by the US Federal Reserve later this month. The recent GST rate cut announcement also added to markets’ optimism during the initial trade. The 30-share BSE Sensex climbed 296.26 points to 81,007.02 in early trade. The 50-share NSE Nifty rallied 90.35 points to 24,831.35. From the Sensex firms, Tata Steel, Tata Motors, Mahindra & Mahindra, Adani Ports, UltraTech Cement and Power Grid were among the gainers. However, Asian Paints, Trent, Bharti

India GST cuts to boost festive season car sales, auto dealers body says

Sept 8 (Reuters) – India’s auto sales to consumers are expected to rise during the festive period due to the government’s consumption GST rate cuts, a dealers’ body said on Monday. However, the Goods and Services Tax (Goods and Services Tax) cuts will lead to buyers deferring purchases as they kick in from September 22, according to the Federation of Automobile Dealers Association. Car sales to customers rose 2.84% year-on-year in August, the dealers’ body said, helped by the festive season, which typically begins in that month. “Dealers remain confident that September will herald the beginning of an accelerated growth

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