COMEX Gold tests one week low

Published on Jun 03, 2024 14:28

COMEX Gold futures fell nearly 1% in last session as US Personal Consumption Expenditure data reflected a moderating trend in inflation. Prices came off a one week high and extended losses today to trade at $2346 per ounce, almost unchanged on the day after testing one week low. Geopolitical scenario remains volatile but there were some positive developments. Israel has confirmed on June 3 that Israel had accepted a framework deal for winding down the Gaza war advanced by U.S. President Joe Biden, media reports stated. Gold is also tracking flat moves in the US dollar index that continues to linger well under 105 mark.