20-Jun-2023      18:11

Gold under $1970 as recent rally fails to hold on

The COMEX Gold futures flipped back the direction today though the overall trading remained choppy after a sharp rebound in the counter on Friday. The commodity had edged up from near three week low though highs around $1980 per ounce mark capped the upmove yesterday. The overall mood in risky assets is weak today as the US dollar index is holding around 102 mark. Asian markets dipped. Shanghai Composite shed half a percent while Hong Kong's Hang Seng lost 1.50%. European stock markets slipped. US markets were closed on Monday for the Juneteenth holiday. COMEX Gold futures are trading at $1965 per ounce, down 0.27% on the day.

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