Commodities

Gold Futures Continues its Dipping Phase

Gold Futures Continues its Dipping Phase

Continuing its slipping streak since Wednesday, Gold Futures yet again dipped on Thursday by 1.2 per cent. It was the account of sell that took place the day before.

Futures on the bullion spot price and Comex rallied beyond the lows of Wednesday session. However, the exhibition of strength by Dollar Index that displays the performance of the greenback against six significant currencies’ basket halted the rally covering up the losses of 2.1% on Wednesday.

The Benchmark December Gold Future (Comex) drowned to $23.80 at $1,946.50. Meanwhile, the gold’s spot price surged by 1 per cent i.e. $18.97 to $1,947.93 (19:00GMT).

Interestingly, spot gold, which generally trades lower than Comex, did not see a plunge similar to that of gold futures.

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