COMEX Gold Supported, Dollar Softens Slightly

mcx-bullion-tipsCOMEX Gold stayed supported since bargain buyers managed to hold on following the continued rebound in the prices. The metal has been seeing good support around its 6 month lows near USD 1200 per ounce. A small weakness in the US dollar after the currency hit its 14 year high is working in the favor of the metal. COMEX Gold is quoting around USD 1217 per ounce, up 0.64% on the day. MCX Gold futures are trading at Rs 29191 per 10 grams, up 0.20% on the day.

Dollar has been easing after the newest data indicated that the Real GDP of the member countries of the Organization for Economic Cooperation & Development area picked up markedly in the third quarter.

The dollar index is at present under 101 levels. The DOW hit another record high in overnight trades. The index had hit a 14 year climax above 101.50 in last session.

, , , ,

Post navigation