Mumbai, July 31 -- COMEX gold futures are attempting mild recovery on Thursday morning in Asia following a sharp decline to around 3-week low this week. Dollar index pulling back from two month high above 99 mark is seen slightly benefitting the yellow metal to some extent. The greenback scaled to a two month high yesterday after the Federal Reserve (Fed) decided to hold its benchmark federal funds rate in a range of 4.25%-4.5% at its July meeting on Wednesday. US Dollar also drew support from stronger-than-expected US economic data that expanded at an annual rate of 3.0% for the April through June period. The precious metal thus continues to stay pressured at $3346 per pound, down 0.18% on the day. Investors now await the US Personal Consu...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.