Precious Metals Preview: COMEX gold sustains above 3K mark amid safe haven demand

COMEX gold futures are hovering above 3k mark on Tuesday morning on rising safe haven demand amid ongoing trade war concerns, escalating geopolitical tensions and persistent weakness in the greenback overseas. Moreover, demand for Gold remained robust, supported by ongoing purchases from exchange-traded funds (ETFs) and central banks?most notably China, which extended its Gold acquisitions for a fourth consecutive month. The yellow metal spiked around 3% last week and is currently up 0.5% at $3021.70 an ounce. Gold is up around 14% this year. Meanwhile, MCX Gold futures also climbed above Rs 88000 per 10 grams.

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