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Gold Mildly Lower Ahead Of Weekend

Published on Oct 01, 2021 17:18

COMEX Gold futures saw some resistance today after a good spike yesterday as a spurt in Bitcoin weighed on the counter. Gold rose from a near two month low yesterday as bargain buying supported the counter amid continued stress and volatility in equities. The US stocks fell on the last session of September 2021 with DOW losing more than 1% on the day. The US dollar index eased a little from near one year high and some softness was also seen in the treasury yields after soaring to three month highs. Gold managed to move near $1760 per ounce but a more than 10% spike in Bitcoin, which is currently quoting around $47500 mark capped gains for the metal and COMEX Gold is currently trading down 0.15% at $1754 per ounce.

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