Gold attempts to hold above $4000 per ounce

COMEX Gold futures are attempting a recovery after recent slide and are holding above $4000 per ounce mark today though overall mood is tentative. The metal rose steadily in last session but firm US dollar and worries over retail demand after a near 65% spike this year could cap advances for the counter. COMEX Gold futures are trading at $4006 per ounce, up 0.35% on the day. Rising US treasury yields could also be a critical factor for the metal. MCX Gold futures trade at Rs 120990 per 10 grams, up 0.39% on the day amid an overall sideways session. There is likely to some reprieve in local jewellery demand as the peak festive season has ended now. Domestic markets will also be eying a volatile undertone in Indian Rupee which quotes at 88.62 per US dollar right now, up marginally on the day.

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