GOLD FLIPS UNDER $1900 PER OUNCE IN ASIA

Published on Nov 04, 2020 12:31

Gold saw corrective moves today after rising in last session. COMEX Gold futures stayed well elevated yesterday after the break above $1900 per ounce as the market remained focused on the US Presidential Election. Soaring equities and weak US dollar also kept the metal supported as COMEX Gold futures hit a one week high of $1912 per ounce. Prices pulled back thereafter though and currently trade down 0.65% at $1898 per ounce. Some bullish vibes emerged from India as the Commerce Department released its provisional foreign trade data for October. The department noted that India`s Gold imports in October 2020 rose by 36% in USD million terms compared to October 2019.