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After recording its first weekly decline since mid-August, gold declined as haven demand was drained by developments in a US-China trade agreement.

Bullion fell to over $4,058 an ounce, a 1.3% decrease. As President Donald Trump travelled to Asia for a series of diplomatic meetings, the United States and China indicated they were getting close to finalising a comprehensive agreement. A deal might reduce some of the geopolitical tensions and economic risk that have supported the precious metal.

The National Bureau of Statistics said on Monday that industrial profits increased 21.6% in September compared to the same period last year. That came after a 20.4% surge in August and was much better than a 3.9% growth predicted by Bloomberg Economics. Profits increased 3.2% for the first nine months of the year.

MCX launches monthly options contracts on the MCXICOMDEX Bullion Index

TCS Clarifies On ‘The Telegraph’ Report On M&S Ousting Co Accused On Cyberattack Failures

TCS Says

Kotak Mahindra Bank

Coforge

Earnings Reactions

GIFT Nifty is higher, trading at a premium of over 100 points from Nifty Futures Friday’s close, indicating a gap-up start for the Indian market

Some of the stocks to watch out for the day inlcudes RIL, Kotak Bank, Dr. Reddy’s, OIa Electric, Coforge, SBI Cards and more.

Check The Full List Here 

From its September 30 low of 24,587 to its high of 26,104 last Thursday, the Nifty 50 had risen 1,500 points in 15 trading sessions. The emergence of buyer weariness at higher levels, which began Thursday afternoon, was only expected. The index has already dropped 300 points from its intraday peak last Thursday.

Stocks, oil, copper, and currencies exposed to China, like the Australian dollar, all rose as a result of indications that the US and China were getting closer to a trade agreement. Gold and Treasury securities fell.

Oil rose as the US-China trade agreement improved the outlook for energy consumption and reduced risk assets.

West Texas Intermediate was close to $62, and Brent was around $66 a barrel after rising nearly 8% the previous week. Leaders in the negotiations said they had an agreement on a number of issues, paving the way for President Donald Trump and his Chinese counterpart, Xi Jinping, to complete a deal. On Thursday, the leaders will get together.

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