Gold Tests Seven Week Low, MCX Futures Under Rs 50K

15 Sep 2022 , 01:13 PM

COMEX Gold futures slipped under $1700 per ounce mark, testing a seven week low as sustained selling pressure weighed on the sentiments following the latest tumble in prices. The worries over US inflationary surge is supporting the US dollar and is keeping Gold under check. Chinese retail demand also remains a cause of worry as in recent weeks more and more cities were implementing soft or partial lockdowns to contain recent COVID-19 case resurgences. The metal currently trades down 0.77% at $1697 per ounce. MCX Gold futures are currently trading at Rs 49745 per 10 grams, down 0.55% on the day amid feeble global cues. Powered by Commodity Insights