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Sunday, 6 November 2016

Spot gold down 0.7%, Indian Rupee Weakens In Early Trades- MCX NCDEX Calls Today

The Indian rupee weakened on 7th Nov. 2016, opening at Rs. 66.75 against the dollar but climbed to a high of 66.6775, on fresh demand for the American currency from importers. 

Spot gold was down 0.7% at USD 1,295.01 in the earlier in the session, and the metal hit a low of USD 1,287.86. 

Crude oil futures extended their losses under USD 50 per barrel last week amid continued selling pressure and weakness in equities. Crude Oil settled at INR 2,942 per barrel, down 1.14 percent. A high of INR 3,000 per barrel levels was noted during the day. 

Investors around the world are watching the US elections cautiously, and many have reacted to the prospects of a Donald Trump presidency with horror, concerned about his strange and economically questionable proposals.

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