COMEX Gold tests two-week low before rebound

COMEX Gold futures continued to ease and tested a two-week low near $3300 per ounce today amid easing trade tensions and firm US dollar. However, it saw a good spike in intraday moves. The US framed an agreement with Japan last week and hammered a trade deal with EU over the weekend. Gold advanced after losses in early Asian trades and currently quotes at $3339 per ounce, up 0.13% on the day. It has jumped more than one percent in intraday moves. MCX Gold futures are trading at Rs 97965 per 10 grams, up 0.15% on the day after testing a low of Rs 97839 per 10 grams. The local price action has been more restrained compared to global moves.

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