Gold Sees Tight Movement Ahead Of Nonfarm Payrolls

7 Jan 2022 , 05:49 PM

COMEX Gold futures stayed in a tight range today as markets waited for the US nonfarm payrolls data. Gold tanked yesterday, falling more than 1% in volatile trades and testing two week low of $1785 per ounce. Some buying emerged around this mark amid weak US equities. COMEX Gold futures currently quote marginally up at $1790 per ounce. MCX Gold futures trade flat at Rs 47460 per 10 grams after dropping more than 1% in last session. Equities were mixed today. Chinese benchmark Shanghai Composite index eased 0.18. Hong Kongs Hang Seng jumped 1.82% on massive buying in property stocks. Japanese Nikkei 225 closed flat after heavy losses in last session. European stocks saw very thin moves ahead of the weekend. US stocks fell on Thursday to end a day of choppy trading, following the massive tech sell-off in the previous session.

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