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Gold Caught In Sideways Action

Published on Feb 09, 2024 14:26

Gold futures saw a tight movement today as firm US dollar, which is holding around 104 mark, capped the upside in the metal. COMEX Gold had drifted lower in last session, approaching $2034 per ounce before edging up. The metal neared $2050 per ounce mark today but the rally seems to have stalled now. Economic calendar is fairly thin and Gold is looking for some further impetus after coming off a one month high after the start of this month. MCX Gold futures are trading at Rs 62445 per 10 grams, unchanged on the day after hitting a high of Rs 62500 per 10 grams in intraday moves.

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