COMEX Gold dips to seven week low

Published on Sep 15, 2022 15:09

COMEX Gold futures slipped under $1700 per ounce mark, testing seven week low as sustained selling pressure weighed on the sentiments following the latest tumble in prices. The worries over US inflationary surge is supporting the US dollar and is keeping Gold under check. Chinese retail demand also remains a cause of worry as in recent weeks more and more cities were implementing soft or partial lockdowns to contain recent COVID-19 case resurgences. The metal currently trades down 0.77% at $1697 per ounce.