JKB Financial Services Ltd.

As on : 06-Dec-2024

Other Markets - Bullion Markets
06-Dec-2024 12:59

COMEX Gold off one week low ahead of nonfarm data

COMEX Gold futures saw volatile moves today, testing one week low of $2635 per ounce before witnessing a recovery. The metal fell amid a sustained corrective undertone in the Crude oil futures though weakness in the US dollar index ahead of the critical US nonfarm payrolls capped losses for the metal. COMEX Gold futures are currently quoting at $2660 per ounce, up 0.44% on the day. Overall movement is tepid for Gold after a 2.5% drop in November and the metal is down marginally on a monthly basis in December too. Soaring Bitcoin values in recent weeks could exert some pressure on the yellow metal. On the MCX, the benchmark Gold futures are trading at Rs 76654 per 10 grams, up 0.23% on the day with lows around Rs 76600 mark capping the downside. The counter lost 0.81% yesterday as a drop under Rs 77000 per 10 grams mark extended.

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