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Budget News

  • MCX Gold Futures Trade Under Rs 45K, Dollar Firm Ahead Of Powell Comments
  • March 04,2021  17:59
  • The COMEX Gold futures saw modest buying support after prices fell to eight month low near $1700 per ounce in last session. Global exchange trade funds are witnessing continued outflows in last few sessions, keeping Gold under check as the overall trend turned lower amid a rise in US bond yields. However, with the Indian spot retail prices falling under Rs 45000 per 10 grams, there is a possibility of good bargain buying. The COMEX Gold futures are currently trading at $1718 per ounce, up 0.12% on the day. MCX Gold is in red though, currently trading at Rs 44845 per 10 grams, down 0.23% on the day. Global equities are showing heavy dose of weakness today and US dollar index is holding firm above 91 mark ahead of comments from US Fed Chief Jerome Powell.

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