Gold Rate Today: Gold losses sheen on strong rupee, surging equities

Commodity Tips

Gold suffered a strong loss in futures trade on Monday as strong gains in riskier equities made investors avoid bets in safe-haven metal.

Domestic equity market saw solid gains after exit polls suggested a landslide victory for the BJP-led NDA in the general elections.

Rupee’s sharp rise against the US dollar also dented the yellow metal as stronger rupee brings gold prices down and spurs consumption in the country.

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