Precious Metals Preview: Gold Sees Flat Moves

COMEX Gold saw some selling pressure after hitting near eight month highs. US stock markets extended winning spree though, the global equity investors remained concerned about growth in China, capping downside in the yellow metal. COMEX Gold futures currently trade at $ 1318 per ounce, flat on the day. MCX Gold futures closed at Rs 33367 per 10 grams, down 0.30% on the day. Local investors also eyed the Indian Rupee yesterday as it snapped 2-day losing streak. INR ended up 23 paise against US dollar as local stocks stayed supported.