COMEX Gold stayed well supported amid intense selling pressure in global equities and good safe haven demand on the Russia-Ukraine crisis. A deep slide in Bitcoin, which fell near a six month low also supported the commodity and COMEX Gold currently trades flat at $1840 per ounce, not far from its recent two month high. MCX Gold futures ended at Rs 48600 per 10 grams, up 0.79% on the day. Asian equities are down despite a sharp reversal in the US stocks, highlighting the stress in risky assets ahead of the US Fed monetary policy meeting and Gold should see steady buying support amid such a scenario.
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