Gold broke below the key psychological level of $1,300 an ounce on Thursday as safe-haven demand for the metal eased due to rising Asian equities and strong Chinese manufacturing data.
Spot gold fell 0.6 per cent to $1,296.50 an ounce by 0319 GMT, after dipping 0.2 per cent in the previous session. US gold slid about $7 to $1,297.80.
Asian stock markets edged broadly higher on Thursday as China's factory activity expanded at its fastest pace in 18 months in July, bolstering hopes for recovery in the world's second-biggest economy.
The S&P BSE Sensex started on a cautious note in trade on Thursday, weighed down by losses in RILBSE -0.49 %, ICICI BankBSE -0.55 %, HDFC and HDFC BankBSE -0.10 %.
The market is flat with negative bias. The Sensex is down 32.87 points at 26114.46 and the Nifty is down 10.95 points at 7784.80. About 443 shares have advanced, 355 shares declined, and 41 shares are unchanged.
Wipro, Sun Pharma, Bajaj Auto, HUL and TCS are top gainers in the Sensex. Among the losers are Bharti, Sesa Sterlite, Reliance, L&T and GAIL.
Spot gold fell 0.6 per cent to $1,296.50 an ounce by 0319 GMT, after dipping 0.2 per cent in the previous session. US gold slid about $7 to $1,297.80.
Asian stock markets edged broadly higher on Thursday as China's factory activity expanded at its fastest pace in 18 months in July, bolstering hopes for recovery in the world's second-biggest economy.
The S&P BSE Sensex started on a cautious note in trade on Thursday, weighed down by losses in RILBSE -0.49 %, ICICI BankBSE -0.55 %, HDFC and HDFC BankBSE -0.10 %.
The market is flat with negative bias. The Sensex is down 32.87 points at 26114.46 and the Nifty is down 10.95 points at 7784.80. About 443 shares have advanced, 355 shares declined, and 41 shares are unchanged.
Wipro, Sun Pharma, Bajaj Auto, HUL and TCS are top gainers in the Sensex. Among the losers are Bharti, Sesa Sterlite, Reliance, L&T and GAIL.
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