Precious Metals Preview: COMEX gold hits fresh record high above $4600 mark

COMEX gold shot up to hit fresh record high on Monday morning in Asia tracking a weak dollar after data on Friday showed December job growth slowed more than anticipated. Upcoming inflation figures will be watched for Federal stance going forward. Meanwhile, media reports of criminal investigation on Federal Reserve Chair Jerome Powell, putting the central bank?s independence into question coupled with geo-political tensions is adding to demand for safe haven metal. Currently, the counter is quoting at $4588. 90 an ounce, up almost 2% on the day. On the MCX, gold futures are holding above Rs 138000 per 10 grams.

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