COMEX Gold futures tanked yesterday as investors continue to assess the impact of a potentially faster-than-expected policy tightening by the U.S. Federal Reserve. The yellow metal fell more than 1% in volatile trades, testing two week low of $1785 per ounce. Some buying emerged around this mark and the counter currently quotes marginally up at $1792 per ounce. MCX Gold futures closed at Rs 47400 per 10 grams, down 1.26% on the day. Sustained selling pressure in Bitcoin, which is hovering around a three month low of $42000 is likely to cap losses for Gold in near term.
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