Precious Metals Preview: COMEX gold briefly hits above $3900 mark in early Asia

COMEX gold continues to rise further, briefly hitting above the next crucial $3900 mark in early Asia on Wednesday. The yellow metal continues to accrue gains on the back of safe haven demand amid lingering concerns of a US government shutdown. As per media reports, the US Senate failed to approve legislation to extend government funding, bringing the country closer to a potential closure, while President Trump signaled further cuts to the federal workforce. Dollar is also staying largely dampened by developments in the US. Currently, the counter is quoting at $3889.80 an ounce, up 0.43% on the day.

Powered by Commodity Insights