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Precious Metals Preview: MCX Gold Slides Around 1%

Precious Metals Preview: MCX Gold Slides Around 1%

December 03, 2021 8:55 IST | capital market
COMEX Gold futures continued to stay slippery and lingered around three week low amid a strong bounce in the US equities yesterday. Traders have been reluctant to push up longs amid lack of clarity about the new covid variant. Worries over tightening US monetary policy are also keeping sentiments under check. US Fed Chief Jerome Powell has noted that the Fed needs to be ready to respond to the possibility that inflation may not recede in the second half of next year. The metal currently trades up 0.66% at $1774 per ounce and could continue to see a choppy action. MCX Gold futures closed at Rs 47418 per 10 grams in last session, down around 1% on the day and will likely see a steady opening today.

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