Gold awaits key US data

Published on Jul 26, 2024 14:35

COMEX gold slumped yesterday, falling in tune with commodities as recent volatility continued. The metal lost 2.60% as a slide under $2400 per ounce extended. The commodity tested an over three-week low. The counter trades up today and currently quotes at $2370 per ounce, up 0.76% on the day. Gold is awaiting key US PCE data due later. The US dollar index is lax around 104 though. Gold is reeling under pressure recently but may find some comfort as Indian purchases may provide support after a reduction in India�s import duties from 15% to 6%.