Gold futures stayed slippery amid a heavy slide in crude oil prices though continued worries on the Ukraine front are capping the losses. The World Bank Group and International Monetary Fund are preparing financing support for Ukraine. In a joint statement, leaders of the two agencies said they were worried by the potential spillover effects of the Russian invasion. They cited rising commodity prices, disruptions in financial markets and the risk of further fuelling global inflation. The World Bank said it would pledge $3bn in the coming months, including at least $350m in the next week. COMEX Gold futures tanked to a two week low last week but moved up thereafter and currently quote at $1750 per ounce, down marginally on the day. The MCX Gold futures are trading at Rs 53001 per 10 grams, down 0.17% on the day. Gold has been under stress recently as crude oil prices tanked to a multi month low on demand worries. Powered by Commodity Insights
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