Gold Benefits From Weak US Dollar, MCX Futures Above Rs 50K

COMEX Gold futures are witnessing a very good recovery after testing lowest in more than two years as bargain buying and some moderation in the US dollar index is boosting the metal. COMEX Gold is currently quoting at $1678 per ounce, up 0.60% on the day as buyers built up longs after recent correction. The US dollar index slipped to a one week low near 112 mark. COMEX Gold has lost around $120 per ounce in last quarter. MCX Gold futures are trading at Rs 50500 per 10 grams, up 0.62% on the day as spot prices under Rs 50K mark are now triggering decent buying in retail markets. Powered by Commodity Insights