iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Gold Choppy After Overnight Slump, MCX Futures Linger Around Rs 53800 Mark

6 Dec 2022 , 02:50 PM

COMEX Gold futures slumped yesterday as a recovery in the US dollar and a tumble in crude oil prices led to a sharp slide in the metal. Traders booked profits after the commodity hit a five month high of $1822 per ounce. The metal lost nearly $40 per ounce and currently trades flat at $1784 per ounce. This was primarily led by a surge in the US dollar index that recovered back above 105 mark. WTI Crude oil futures also crashed, breaking under $80 per barrel mark and triggered a downbeat reaction in the broad commodities segment. For COMEX Gold, this turned out to be a highly negative set of variables and the metal saw accelerated losses once it broke under $1800 per ounce mark. With this slide, there is a possibility that the metal will likely see choppy action ahead of the upcoming US Fed monetary policy decision on December 15th 2022. MCX Gold futures are quoting at Rs 53800 per 10 grams, up 0.55% on the day. The counter hit above Rs 54200 per 10 grams yesterday before sliding and ended around Rs 53500 mark. Powered by Commodity Insights

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.