COMEX Gold Rises On Bargain Buying, Strength In INR Weighs On Local Futures

COMEX Gold Rises On Bargain Buying, Strength In INR Weighs On Local Futures

Sep 12, 2019 09:09 IST capital market

COMEX Gold futures edged up today as near about one month low levels saw decent buying interest. Gold has been sliding in last few days as profit selling was seen in the metal after it hit near seven year high above $1560 per ounce. Markets are bracing for the monetary policy meet of the European Central Bank (ECB). The central bank is set to unveil fresh stimulus measures to prop up the ailing euro zone economy. This is a supportive factor for Gold though the actual quantum of the ECBs stimulus would be closely monitored and the metal might ease a little thereafter if the US dollar stages a rally. The US dollar index currently trades down marginally at 98.50 levels. COMEX Gold is trading at $1511 per ounce, up 0.56% on the day. MCX Gold currently trades at Rs 38907 per 10 grams, down 0.18% on the day. The local Gold futures slipped as the Indian Rupee extended recent gains. INR is currently up 0.34% at 71.32 per US dollar.

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