Gold races to fresh highs as break above $3700 per ounce extends

COMEX Gold futures surged to fresh highs as a break above $3700 per ounce extended amid mixed equities and tepid cues from the US dollar. Geopolitical worries boosted the bullion futures as UN security council is set to hold an emergency meeting on Monday over Russian fighter jets? violation of Estonian airspace as Donald Trump expressed his displeasure at the incursion and said he would help defend European Union members if Russia intensified hostilities. COMEX Gold spiked 1.40% to trade at $3757 per ounce, adding to recent series of record highs. The metal is up around 7% this month. MCX Gold futures are currently trading at Rs 111467 per 10 grams, up 1.50% on the day as weak Indian Rupee triggered further upside in the metal.

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