COMEX Gold futures stay weak

Published on Feb 28, 2023 17:07

COMEX Gold futures stayed weak, succumbing to heavy selling pressure to test two month low under $1720 per ounce. Asian stocks saw mixed movement today. European stocks slipped with major indices losing around half a percent. The US stocks edged up yesterday, edging up on bargain buying. Gold has been under stress recently with not much buying emerging on tepid Indian demand and worries over elevated interest rates. Rising US yields also weighed on the yellow metal.