Gold stays choopy, holds around $2050 mark

Published on Dec 21, 2023 14:36

COMEX gold futures continue to trade in a tiny range around $2050 per ounce mark as dollar oscillates on either side on 102 mark awaiting further clarity on Fed course of action in the coming year. Currently, gold futures are trading at $2047.10 an ounce, down marginally on the day. Lower treasury yields under 3.9% dragging dollar lower following dovish FOMC last week has been benefiting the yellow metal. Gold has been sedated this week and the near term price action is likely to be similar as year-end lull in trading activity keeps the overall momentum choppy.