COMEX Gold softens after hitting three-week top, rises around 2% this month

COMEX Gold futures eased from a three-week top as some corrective action emerged in the metal on the last session of the month. A mild recovery was seen in the US dollar index after its heavy slide this week and Gold eased as a result. The yellow metal currently trades at $4160 per ounce, down 1% on the day. Gold has moved up around 2% this month after a deep correction of 12% in June. Near term demand trends from India are expected to be lax and a lot will depend on the trajectory of monsoon over coming months. MCX Gold futures for October are trading at Rs 143630 per 10 grams, down 0.84% on the day.

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