COMEX GOLD FUTURES HIT AROUND ONE AND HALF WEEK HIGHS

Published on Nov 21, 2024 14:29

COMEX Gold futures soared today, adding to recent gains as feeble global geopolitical scenario boosted the metal. The metal currently trades at $2672 per ounce, up 0.77% on the day and hitting around one and half week highs. Gold has carved out decent gains in last few days even as the US dollar index firmed up around its one year highs. Ukraine has acted on Biden�s decision to let Kyiv fire first long-range Atacms missiles deep into Russian territory, adding a new dimension to the ongoing war. This is likely to support Gold on safe haven demand though elevated treasury yields and firm US dollar could cap major advances for the metal. A slight seasonal dip in Gold buying in Indian retail markets post festive season could also be an influencing factor. MCX Gold futures are trading at Rs 76531 per 10 grams, up 0.65% on the day, adding to the latest gains after the counter successfully managed to end above Rs 76K.