Gold Slides As Risk Sentiment Takes A Hit, COMEX Futures Under $1700 Mark

10 Oct 2022 , 05:05 PM

COMEX Gold futures slipped to one and half week low and selling was seen intensifying after the break under the critical $1700 per ounce mark. The commodity is currently quoting at $1687 per ounce, down 1.29% on the day. The risk sentiment was has taken a hit as the US dollar index jumped near a one week high of 113. MCX Gold futures are trading at Rs 51294 per 10 grams, down 1.28% on the day. Asian markets fell. China’s Shanghai Composite Index lost 1.66% to test five month low. Japan’s Nikkei 225 index fell 0.71% and Hong Kong’s Hang Seng tanked 3%. Semiconductor stocks tumbled after fresh US curbs on China’s access to American technology. European shares saw frail start to the week with indices in France and UK falling around half a percent. The US stocks extended their losing spree with the DOW slumping more than 2% on Friday.Powered by Commodity Insights