COMEX Gold Carves Out Modest Gains

COMEX Gold Carves Out Modest Gains

Nov 26, 2020 05:11 IST capital market

COMEX Gold futures witnessed some bargain buying as prices edged up from four and half month low under $1800 per ounce. COMEX Gold futures are invariably linked to this easy US monetary policy dynamic and saw some buying after the Fed policy minutes yesterday indicated continued lax monetary outlook for the worlds largest economy. Weak US dollar also capped losses for the metal and COMEX Gold currently trades at $1813 per ounce, up 0.36% on the day. MCX Gold futures trade at Rs 48671 per 10 grams, up 0.33% on the day. The US dollar fell under 92 mark in last session, testing nearly three month low. The US dollar index is lingering at 92.05 right now, up marginally on the day. Global equities were mixed today but did not fall even after a slide in US stocks last night. In US, the Dow Jones Industrial Average and the S&P 500 index closed lower on Wednesday as mounting US layoffs in the wake of new mandated lockdowns weighed on sentiments.

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