Precious Metals Preview: COMEX Gold Tests Lows Near $1910 Per Ounce Before Witnessing Support

23 Mar 2022 , 08:53 AM

COMEX Gold futures slipped in last session, extending recent losses as firm US equities and some tentative moves in crude oil prices weighed on the metal. A clear break above $40000 mark in Bitcoin also affected sentiments. Last weeks sharp correction in Gold prices when it tested around two and half week lows is affecting the overall marker structure and the US Fed Chief Jerome Powells upbeat assessment of the US monetary policy is ensuring that not much of buying is emerging in the commodity. The metal tested lows near $1910 per ounce before witnessing some buying. The counter currently trades up marginally at $1924 per ounce.

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