Gold Sees Choppy Moves, Lingers Around $1730 Per Ounce In Asian Trades

Published on Apr 07, 2021 11:48

COMEX Gold edged up near one month high in intraday moves yesterday, staying broadly supported as weakness in the US dollar triggered good buying. The metal rose around 1% before easing. The commodity fell further in Asia and trades under $1730 per ounce. The US dollar index eased further from a five month high, extending a drop under 93 mark. Indian demand trend is seen firm over a medium term. International Monetary Fund (IMF) on Tuesday upgraded its gross domestic product (GDP) projection for India to 12.5% in FY22, the highest growth rate estimated for any country this fiscal. The estimate is 1% higher than its earlier forecast made in January.