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OPEC forecast higher demand for its oil in 2018 and said its production-cutting deal with rival producers was successfully getting rid of a glut.
Snapping its two-day falling streak, gold prices recovered by Rs 110 per ten grams at the bullion market here today, tracking a firm trend overseas amid renewed buying by jewellers demand.
Gold prices fell by another Rs 100 to Rs 30,600 per 10 grams at the bullion market today, largely in tandem with a weak global trend amid muted demand from local jewellers.
Benchmark Nifty ended flat today at 10,085.40 points on weak global cues after North Korea launched another missile over Japan.
Gold steadied above an earlier two-week low on Thursday as the dollar softened despite strong U.S. consumer inflation data, which could allow further interest rate increases from the Federal Reserve.
Gold recorded a steep fall of Rs 500 in its prices to close at Rs 30,350 per 10 grams at the bullion market today, tracking a weak trend overseas amid tepid demand from local jewellers.
Trump sees clearly that the strong dollar is an obstacle to his goal of growing manufacturing employment in the U.S. and boosting U.S. exports.
The broad-based Nifty slipped below the 8,600-level by losing 24.60 points, 0.28 per cent, to 8,590.65.