Gold Slightly Lower, US Dollar Off Three Week High

COMEX Gold eased a little after modest gains in last session as worries over Indian demand and profit selling pressure after recent surge weighed on the sentiments. European stocks edged up on hopes of more monetary and fiscal stimulus. However, traders are waiting for the Federal Reserves annual Jackson Hole symposium later this week. The whole mood in risky assets is thus likely to be cautious and Gold can see buying at lower levels. The metal currently trades at $ 1510 per ounce, down 0.35% on the day. MCX Gold futures are trading at Rs 37870 per 10 grams, down 0.35% on the day after topping out at Rs 37960 per 10 grams. Meanwhile, the US dollar index has eased from its three week high of 98.45 in last session and currently lingers just around 98.20 mark, flat on the day.