Precious Metals Preview: Gold Consolidates Around $1480 Per Ounce Mark

Precious Metals Preview: Gold Consolidates Around $1480 Per Ounce Mark

Dec 06, 2019 03:12 IST capital market

COMEX Gold futures stayed supported after hitting one month high earlier in the week. However, positive equities capped the upside in the metal and COMEX Gold currently trades at $1480 per ounce, down marginally on the day. MCX Gold futures closed at Rs 38070 per 10 grams, down 0.06% on the day on firm Indian Rupee. Indian Rupee jumped sharply following RBIs status quo. INR ended at 71.29 against the US dollar today, spurting 24 paise on the day. INR has hit a two week high against the US dollar with this spurt. Volatile undercurrent in equities did not hurt the local currency today. US dollar index currently lingers around 97.30, down marginally on the day. The index tested around three week low earlier this week.

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