GOLD SEES MODEST GAINS, JACKSON HOLE IN FOCUS

Published on Aug 23, 2023 13:12

COMEX Gold futures are approaching near one week high as recent bounce from a six week low extended amid a slight moderation in US treasury yields. Overall mood remains cautious though as traders focus on Jackson Hole symposium. Rising risk appetite is also coming in the play as a critical factor the metal right now. The Indian retail demand is currently thin and a full-fledged surge in buying will be seen only when the festive season pick up in coming weeks. This could confine COMEX Gold futures in a range in near term, particularly if the US dollar index maintains its buoyant spell. The metal currently trades up 0.35% at $1932.70 per ounce. MCX Gold futures are currently trading at Rs 58585 per 10 grams, up marginally on the day after hitting a high near Rs 58660 per 10 grams.