Gold Finds Some Buying, Stocks Tumble In Europe

COMEX Gold looked to reserve some of the latest losses on political instability in the Eurozone. European equities opened lower on media reports that the Italian President had blocked the proposed finance minister. This boosted the US Dollar index to a multi month high near 95 levels. Gold is quoting down 0.15% at $ 1302 per ounce, trimming losses and edging up above the key $ 1300 per ounce levels. MCX Gold futures are trading at Rs 31152 per 10 grams, up 0.61% on the day. Gold tumbled yesterday, giving up some of its recent gains after US President Donald Trump said a US team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un, which Trump pulled out of last week before reconsidering it again. Markets in Europe are down sharply. The DAX and CAC are 1.5% while the FTSE has given up around 1%.