12 Apr 2022 , 08:50 AM
COMEX Gold futures edged up near a two week high as sentiments stayed well supported ahead of US inflation reading. Gold managed to move up above $1950 per ounce despite broad US dollar strength. Broad pricing pressure remains elevated globally, keeping Gold supported. The UN Food and Agriculture Organizations (FAO) food price index averaged 159.3 points in March, up from the previous months 141.4 points, which had itself broken an earlier record of 137.6 points scaled 11 years ago in February 2011. Weak equities are also acting in favor of the metal.
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