Mumbai, Nov. 6 -- COMEX Gold futures are seen consolidating under $4K mark this week amid heavy correction earlier in the week. Gold melted in tune with other metals as the US dollar index soared. A modest pullback was seen in the counter today as it quotes at $3991.70 per ounce, down marginally on the day. However, following the slide from all-time highs, the overall sentiments are turning cautious for the metal from a near term perspective. Global trade cues are also turning positive as China noted that it will suspend its 24% additional tariff on US goods for one year while retaining a 10% duty. The US dollar index currently holding around a five-month high is also weighing on the yellow metal. This can cap advances in Gold. MCX Gold fut...
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.