Gold slipped today as profit selling hit the metal after prices tested near four month high in last session. COMEX Gold neared $1260 per ounce levels last night but failed to extend gains amid supportive US equities. The metal currently trades at $1255 per ounce, down 0.30% on the day. MCX Gold futures are also down 0.58% at Rs 29539 per 10 grams mark. Meanwhile, global equities remained cautiously positive today as markets eyed President Donald Trump’s address to a joint session of Congress. Stocks have remained cautious globally over last few days as investors eyed further clarity on the business and immigration policies of US President Donald Trump.
Meanwhile, the US dollar remained little changed ahead of the US market open. After reporting an unexpected drop in new orders for US manufactured durable goods in the previous month, the Commerce Department released a report on Monday showing a rebound in durable goods orders in the month of January. The report said durable goods orders surged up by 1.8% in January after falling by a revised 0.8% in December. Dollar index is hovering around 101 levels following this.
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