Gold Prices Slump Amid A Stronger Rupee And Rising Equities

On Monday, gold suffered in the futures trade market as currencies and equity markets gained, shifting traders' bets away from the metal. In the international market, the yellow metal was trading near its two-week low of $1,274.51 an ounce it hit on Friday, after data showed American consumer sentiment jumped to a 15-year high in early May amid growing confidence over US economy's outlook. Spot gold was broadly unchanged at $1,276.79 per ounce in the morning session.

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