COMMODITY
Gold futures trade lower in early deals on Monday
Nov-30-2020
Gold futures traded lower in early deals on Monday, and is in track of marking steepest monthly dip in four years on account of the prevailing risk appetite in the market amid optimism over a covid vaccine- led economic rebound. The risk sentiments also bolstered after China’s factory activity expanded at the fastest pace in more than three years in November, dulling safe haven appeal of the bullion. Meanwhile, the market participants are eyeing  on testimony Congressional by US Federal Reserve Chairman Jerome Powell this week, for clues on the likely direction monetary policy might take.

Gold futures for December delivery dropped 0.5% to $1,772.60 an ounce on the Comex division of the New York Mercantile. Spot gold fell 1.2% to $1,766.26 per ounce.

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