Gold is trying to stabilize after the recent tumble. The metal fell to a one week low under $1670 per ounce amid heavy dollar strength though weakness in equities capped losses. Japans Nikkei 225 index tanked 2.64% and Hong Kongs Hang Seng index plunged 2.20%. European shares extended losses on broad economic worries. Major indices lost around 1%. The US stocks stayed under stress. The tech-heavy NADAQ index plunged around 1% to test lowest in around two years. COMEX Gold futures are currently trading at $1675 per ounce, almost unchanged on the day.Powered by Commodity Insights
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