Login ID:
Password:
Partner Login
Contact Us : 7066511911

Comex Gold Inches Lower as Dollar Gains Ground

26 Oct 2020 8:16 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) – Gold prices eased to an over one-week low on Monday in early Asia trade as the dollar firmed and talks over the new U.S. coronavirus aid package showed no signs of progress.

Spot gold fell 0.1% to $1,899.41 per ounce by 0053 GMT, after hitting $1,890.19, its lowest since Oct. 15.U.S. gold futures were down 0.2% at $1,900.


The dollar index was up 0.1% against a basket of currencies.

U.S. House Speaker Nancy Pelosi said on Sunday the Trump administration was reviewing the latest plan for more COVID-19 relief over the weekend and that she expected a response on Monday, adding that she was still optimistic a deal could be reached.

U.S. reported 79,852 new infections on Saturday, close to the previous day's record of 84,244 new cases. Hospitalizations are also rising and have hit a two-month high and deaths are trending upwards.

France registered a record increase in infections over the weekend, while Spain announced a state of emergency as a second wave of cases surges through Europe.

Gold premiums in India jumped to their highest in nearly three months last week, as jewellers continued to stock up on hopes of more customers visiting stores as the festive season gathers pace.

Speculators increased their net long position by 15,488 contracts to 135,311 in the week to Oct. 20 in COMEX gold, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.14% to 1,263.80 tonnes on Friday.

(Commodities Control Bureau)




       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Precious Metals – Silver (Jul ‘21) – Trading in a Range...
Precious Metals – Gold (Jun ‘21) – Weak Price Trend / N...
Bullion Today: Gold Slips to 6-week Low on Fed’s Hawki...
Precious Metals – Silver (Jul ‘21) – Consolidating Near...
Precious Metals – Gold (Jun ‘21) – Counter-trend Declin...
more
Top 5 News
ICE Raw Sugar Futures Fall 2-Month Low on Stronger Doll...
ICE Cotton Futures Ends Higher, Market Finds Reverse
Chana Firm in Selective Spot Mkts
Sugar Prices Unchanged on Weak Buying
Wheat Prices continues bearish tone in UP, Steady Tone ...
Top 5 Special Reports
Prices of Tur, Moong dal and Urad stable, showing Decli...
Wheat Procurement May Cross Target of 433 Lakh tonnes
U.S. Corn Exports Rise 1% Last Week : Reports
U.S. Cotton Exports Rises 18% to 3.03 Lakh RB from Last...
U.S. Soybean Exports Fall 47% , Soyoil 57% : Weekly Rep...
Copyright © CC Commodity Info Services LLP. All rights reserved.