Gold Slips, Bitcoin In Demand

COMEX Gold slipped today as traders eyed an impressive recovery in Bitocoins and a modest drop in other commodities also weighed on the metal. COMEX Gold has pulled back from its three month highs and currently trades at $ 1342.70 per ounce, down 0.44% on the day. MCX Gold futures are currently trading at Rs 31430 per 10 grams, down 0.53% on the day. Bitcoin futures have recovered from their recent lows and are showing good traction after breaking above $ 8000 levels this week. Bitcoin market seems to be supported now after a frantic correction which pulled the cryptocurrencny sharply from its all time highs of $ 20000 levels. A spurt in fundraising via Initial Coin Offerings (ICOs) has been reported in the first quarter of 2018 than what was recorded in the previous year. The total ICO funding for last year was $ 5.5 billion, while in the first quarter of 2018 itself global ICOs raised $ 6.3 billion, which is 118 percent of the 2017 total, according to data collected by CoinDesk, noted media reports today.