Gold Lingers Around One Week High, NATO Summit In Focus

24 Mar 2022 , 12:55 PM

COMEX Gold futures are holding onto their recent gains though a firm US dollar index is capping upside. The situation in Ukraine appears to be grim as Russia continues to escalate its attacks on key cities. Gold has been witnessing steady buying amid this escalation in violence and volatile equities. Gold saw calm moves today after a near one percent surge in last session as Crude oil prices corrected. WTI Crude is currently down 1.40% at $113.36 per barrel. COMEX Gold futures are trading at $1943.20 per ounce, up 0.30%. The metal is lingering around one week high. MCX Gold futures are trading at Rs 51817 per 10 grams, up 0.10% on the day after hitting above Rs 51900 mark briefly. The US dollar index is quoting around 98.83, up 0.22% mark as global leaders meet up for a critical NATO summit in face of grim humanitarian situation in Ukraine.

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