Precious Metals Preview: COMEX gold extend gains near lifetime highs

COMEX Gold futures are seen extending gains around lifetime highs at $3777 an ounce as market sentiments stay cautious amid geopolitical tensions and hopes of further rate cuts by Fed. 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. The yellow metal surged nearly 2% in the previous session, adding to recent series of record highs. The metal is up around 7% this month. MCX Gold futures yesterday ended around 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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