Mumbai, Aug. 6 -- Gold futures slipped below $3420 per ounce on Wednesday, falling nearly 0.5% as the metal faced strong resistance around the $3450 level. On MCX, October gold futures dropped 0.5% to Rs.100810 per 10 grams. The dollar index traded sideways near 98.64, leading to fluctuations across dollar-denominated assets. Mixed US economic data, including weaker-than-expected ISM services activity, and renewed trade tensions added pressure on gold prices. President Trump's tariff moves and uncertainty over Federal Reserve leadership-following Governor Kugler's resignation-fueled volatility. While gold found some support from geopolitical risks, resistance remains firm with near-term support expected around $3300.
Published by HT Digita...