Gold stayed largely supported amid a slide in the US dollar index yesterday as market waited for the US inflation data. The metal moved up near a two week high of $1837 per ounce. MCX Gold futures broke well above Rs 48000 per 10 grams and closed at Rs 48670 per 10 grams, up 0.50% on the day. The break above $1800 per ounce is working well for the metal despite firm equities and soaring Bitcoin. Falling Covid-19 cases in India are rekindling hopes of a recovery in retail demand too.
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