Gold Under Trouble, Dollar Index At 11 Month High

Gold futures slipped further today as the strength in US dollar hurt the sentiments and not much of buying is seen emerging in the yellow metal in light of the recent price destruction. The break under $ 1300 per ounce has caught Gold traders off guard and with the equities marching upwards following the US-China trade war scare, buying is limited in Gold. COMEX Gold is currently trading at $ 1264.90 per ounce, down 0.76% on the day. These are the lowest level in seven months for the metal. MCX Gold futures are currently trading at Rs 30641 per 10 grams, down 0.45% on the day. The US dollar index broke above 95 levels today and hit its fresh 11 month high of 95.19 amid a sustained uptick.