COMEX Gold futures eased from a one month high yesterday and corrected further today as the firmness in the US dollar index and profit selling pressure hurt the metal. COMEX Gold currently trades down 0.43% at $1976.10 per pound. MCX Gold is likely to see a lax opening following this drop in global prices after hitting above Rs 53000 per 10 grams. However, the escalation in the Russia-Ukraine warfare could cap losses for the metal. Media reports stated today that Russia is building up troops and military equipment along Ukraines eastern border ahead of an expected offensive in the Donbas region. Gold has been well supported this week on rising inflationary worries.
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