Gold Languishes In Tiny Range On Dollar Strength

COMEX Gold futures stayed in a tight range after correcting from an eight month high as the US dollar edged up and buying remained limited in the yellow metal following recent gains. The US dollar index rose for a third straight session today, extending a recovery from three week low and hit a one and half week high of 96 today. This broadly weighed on COMEX Gold but losses were limited for the yellow metal given the ambiguity on global trade front. The commodity currently trades at $ 1317.65 per ounce, down marginally on the day. MCX Gold futures are currently trading at Rs 33405 per 10 grams, up 0.11% on the day after testing a low under Rs 33330 per 10 grams.