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Gold Stays Under Check

Published on Dec 03, 2021 11:59

COMEX Gold futures continued to stay slippery and lingered around three week low amid a strong bounce in the US equities yesterday. Traders have been reluctant to push up longs amid lack of clarity about the new covid variant. Worries over tightening US monetary policy are also keeping sentiments under check. US Fed Chief Jerome Powell has noted that the Fed needs to be ready to respond to the possibility that inflation may not recede in the second half of next year. The metal currently trades up 0.66% at $1774 per ounce and could continue to see a choppy action.

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