COMEX gold lingers around $4400 mark

COMEX gold is lingering around $4400 mark today after witnessing a sharp rebound in last session. The metal had tumbled to a four-month low to $4100. The precious metal rose from around $4,100 after US President Donald Trump decided to back down from his threat to destroy Iran?s power infrastructure, reducing immediate inflation fears. The metal is quoting at $4404 an ounce, almost unchanged on the day. Global PMI data updates are due today. Market is focussing on near term demand trends in India and China. MCX Gold futures bounced in intraday moves after falling around Rs 136300 per 10 grams. It currently quotes at Rs 139302 per 10 grams, up marginally on the day. The counter lost 3.6% in last session with a massive spike in volume and a heavy drop in open interest ahead of the expiry of April series.

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