Indian Retail Demand Worries Cap Gains In Gold

Indian Retail Demand Worries Cap Gains In Gold

Apr 12, 2021 05:04 IST capital market

Gold futures eased today after hitting near a six-week high last week. Worries over Indian demand capped the gains. The metal currently trades down marginally at $1743 per ounce. MCX Gold trades at Rs 46720 per 10 grams, up 0.27% on the day. A massive spurt in Covid-19 cases are likely to hurt the retail purchases. Indias daily new Covid-19 cases continue to rise. A total of 1,68,912 new cases were registered in the last 24 hours. Ten States including Maharashtra, Uttar Pradesh, Delhi, Chhattisgarh, Karnataka, Kerala, Tamil Nadu, Madhya Pradesh, Gujarat and Rajasthan have shown a rise in the COVID daily new cases. However, weakness in the US dollar is limiting losses for COMEX Gold.

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