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Gold prices likely to trade sideways to down this week; resistance at Rs 50800, support at 49500 per 10 gram

By Tapan Patel Commodity prices traded lower with most of the commodities in non-agro segment witnessed decline during the week with crude oil and metals falling the most followed by bullion prices. The stronger dollar and slowdown fears has capped upside in commodities. Gold prices traded lower with spot gold prices at COMEX fell by 1.49% at $1712 per ounce for the week. Gold October futures at MCX fell by 1.70% to Rs 50368 per 10 gram along with stronger rupee. The spot rupee rose by 0.09% to 79.80 against the dollar for the week. Gold ETFs continued outflows as …

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