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Weekly Gold Review: COMEX Futures Bounce From One Month Low
(04-Dec-2021, 13:22 Hours IST)
COMEX Gold tanked near a one month low of $1760 per ounce before edging up. The yellow metal gas been turning lower despite the worries posed by new Covid-19 variant Omicron in last few days. Bulk of the selling pressure has been triggered by worries over a potentially quicker tightening of the US monetary policy. Gold traders are also keeping a check of increasing Chinese Gold output. India's retail Gold demand outlook is also mixed after the festive season. The metal ended just above $1780 per ounce. MCX Gold futures closed just above Rs 47900 per 10 grams amid volatile trading. Local traders also eyed weakness in the Indian Rupee.

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