Bullion: Domestic gold futures were trading 1% lower as the sharp rise in rupee against the dollar weighed on prices. On COMEX, the metal edged higher on short covering and bargain buying after the metal fell 1.5% on Wednesday.
Energy: Crude oil futures on domestic exchanges were flat with a negative bias as the effect of bullish overseas cues was offset by the rise of 1.1% in the rupee against the US dollar. Global prices of crude oil got a boost from optimism US policymakers would reach a budget deal to prevent the so-called "fiscal cliff" in the country once the proposed tax hikes and spending cuts come into effect in January.
Metals: Base metals on the MCX, barring copper, were trading firm tracking London Metal Exchange. However, gains were modest, as prices on the LME, though in green, were in a range with the market worried about the impending US "fiscal cliff" and as details of the recently announced steps to help Greece lower its debt remain sketchy.
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