COMEX Gold Hovers Just Above $1750 Per Ounce Mark

Published on Sep 24, 2021 17:29

COMEX Gold stayed mostly supported after falling near a six week low in last session as traders eyed stress in equities. The metal currently trades up marginally at $1755 per ounce. Traders are expecting strong festive season demand in local spot retail markets over coming weeks. The Covid-19 scenario in the country also stayed affirmative for the bullion. Spot Gold in India is hovering around Rs 46000 per 10 grams and latest correction in prices should lead good inquiries from buyers. The MCX Gold futures are trading at Rs 46039 per 10 grams, almost unchanged on the day. Asian stocks eased as markets waited for clarity on the Evergrande scenario. China`s Shanghai Composite Index fell 0.80% while he Hang Seng Index of the Hong Kong gave up 1.30%. Japanese benchmark Nikkei 225 jumped 2% today after a holiday on Wednesday. European stocks fell ahead of the weekend with German index DAX losing 0.73% while French CAC tumbled around 1%.