COMEX Gold futures jumped to a record high on Friday, witnessing excellent buying support on safe-haven demand and rising expectations of further interest rate cuts by the US Federal Reserve. The US dollar index is trading in a very lax manner and is down around 1.60% this month. COMEX Gold futures are up 1% at $4543 per ounce today per ounce, bouncing around 7% this month so far. Indian spot retail demand in thin right now and a meaningful pick-up could be seen only after the year-end. Meanwhile, the US President Donald Trump has said that he expects the next chairman of the US Federal Reserve to keep interest rates low and never disagree with him. This is keeping overall mood upbeat for the bullion counters. The MCX Gold futures are trading at Rs 139329 per 10 grams, up 0.89% on the day after hitting a high above Rs 139400 per 10 grams.
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