Sovereign Gold Bonds 2020-21 will be issued by RBI on behalf of the Government of India.
ETCDs having gold as the underlying asset would be considered as 'gold-related instrument' for gold ETFs.
Cuts have been due to taper to 7.7 million bpd from July to December.
US West Texas Intermediate (WTI) crude futures rose $1.65, or 4.4 per cent, to $39.02 a barrel.
US gold futures fell 2.8 per cent to $1,678.40.
The Malaysian market will be closed for a public holiday on Monday.
RBI governor Shaktikanta Das said only the agriculture sector is showing a silver lining.
‘Flush of liquidity now going into equity before finding its route into credit’
Changing consumer behaviour and politics of the world also throw up new avenues.
‘India has the demographic benefit compared to the rest of the world’
Analysts said India had the most stringent lockdown with the least number of cases.
More Indians invested in stocks, did trading & stayed put in largecaps during lockdown.
‘We continue to see challenges over the medium to long term for Tata Motors’
Volumes across companies were down around 80 per cent year on year.
‘This is just a small recovery rally but one should be very careful’
Crude oil was up 0.57 per cent while its peer natural gas advanced 0.14 per cent.
The yellow metal was down 0.66 per cent at Rs 46,390 per 10 gram in the morning trade. On the other hand, white metal silver traded 0.69 per cent lower at Rs 48,474 per 1 kg.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings, dipped 0.1% to 1,132.21 tonnes on Thursday.
"The oil group is struggling to find consensus around extending deep output cuts," ANZ Research said in a note.
On Wednesday, the precious metal had closed at Rs 47,459 per 10 gram.
Generally, over the years, import of edible oils hovers around 12 lakh tonnes in May. But this year it has dropped almost 38%.
A ministerial meeting could be called at short notice this week if there is an agreement, the sources said.
US West Texas Intermediate (WTI) crude futures dropped 74 cents, or 2 per cent, to $36.55.
US gold futures were up 0.4 per cent at $1,710.90.
Palm had climbed 2.5% in the previous two sessions to hit its highest closing level in two months.
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