Gold dips under $2000 per ounce to test two week low

Published on May 17, 2023 11:40

The COMEX Gold futures were in for a sharp correction yesterday amid a broad rally in the US dollar index which hit a six week high. Gold lost more than one percent yesterday to test two week low of $1995 per ounce as the key $2000 per ounce mark gave up. Indian demand remains a big worry. India`s Gold imports stood at Rs 8275.22 crore in April 2023, down around 37% compared to April 2022. The import had dipped around 18.50% in the full year FY23.