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Aussie trades lower at noon |
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Australia’s currency, the Aussie was lower at noon as the crisis in financial markets, falling commodity prices and an RBA’s interest rate cut caused investors to abandon the high-yielding currency.
At 1200 AEDT, the Australian dollar was trading at $0.7192 96, down about three US cents, or 4.05 per cent, from yesterday's close of $0.7495/98.
During the morning, the local currency traded between a low of $0.7092 and a high of $0.7260.
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All bullion contracts showed negative trend. Gold December 09 contract went down by 1.80% to Rs 14408 per 10 grams. Gold M July 09 contract shrank by 1.51% at Rs 14452 per 10 grams. Gold guinea July 09 contract went down by 0.71% to Rs 11467 per 8 gr |
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Hourly update on prices of key gold and silver futures on Multi Commodity Exchange of India. Change compared with previous end. |
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Gold priced remained firm in the Mid London trade thanks to the closure of US equity markets despite the strength in the dollar. However, the domestic counter was seen down. |
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