Gold lower in cautious trades

Published on Nov 21, 2022 11:29

COMEX Gold futures continue to stay subdued in early Asia on Monday after latest spurt to around three month high as the commodity eyed a modest uptick in the US dollar. A deep slide in crude oil futures and signs of inflation cooling off in the US are also capping advances in the yellow metal. Soaring equities has also dented sustained buying in the commodity after it run up from $1620 to near $1800 per ounce over last two weeks. However, the yellow metal is likely to stay supported on safe haven demand, given the uncertain global geopolitical backdrop. COMEX gold was seen quoting lower by nearly half a percent at $1746.90 an ounce.