COMEX GOLD SLIPS HALF A PERCENT IN ASIA

Published on Oct 05, 2020 11:33

COMEX Gold saw sideways trades in last session. The overall undertone was supported though as the metal edged up near a one and half week high above $1923 per ounce. The metal slipped from these levels as some profit selling emerged and ended just above $1900 per ounce mark. The commodity eased today as Asian equities edged up and currently trade at $1897 per ounce, down 0.55% on the day. Indian retail demand will matter a lot now as the central government yesterday issued new guidelines for opening up of more activities in areas outside the containment zones. With spot retail prices hovering just above Rs 50K mark, some active buying could be seen ahead of peak festive period.