Mumbai, April 23 -- Gold tanked today, giving up heavily amid a rebound in the US equities and worries over near term demand in India were spot prices hit a historic Rs 10000 per 10 grams mark. COMEX Gold futures eased marginally yesterday and tanked nearly 3% today as a break under $3500 per ounce mark triggered hefty correction in the metal. The counter currently trades down 2.80% at $3325 per ounce. MCX Gold futures are also trading lower by around 2% at Rs 95485 per 10 grams. Meanwhile, Tobias Adrian, Financial Counsellor and Director, Monetary and Capital Markets Department, IMF stated yesterday that we have seen a strong rally in gold prices, which is the sort of usual relationship we see in safe haven flows. When there is a high leve...
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