Bargain Buying Lifts COMEX Gold Up

Bargain Buying Lifts COMEX Gold Up

Nov 11, 2019 12:11 IST capital market

COMEX Gold edged up from three month low as some buying emerged on global trade worries. The COMEX Gold futures are currently trading at $1466 per ounce, up 0.20% on the day. MCX Gold futures are up 0.30% to trade at Rs 37800 per 10 grams. Large precious metals speculators once again added to their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 279,828 contracts in the data reported through Tuesday November 5th. This was a weekly gain of 3,313 net contracts.

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