Gold price hits two month low on soaring US dollar rates. Buy or wait for more correction?
Gold fails to attract investors as it hits a two-month low due to a surge in the US dollar rates and lack of safe-haven demand
Gold rate today: Despite risk prevailing in the global financial market, gold failed to emerge as 'investors' haven' and nosedived to two month low. Spot gold price even breached its crucial support of $1,880 per ounce levels and ended at $1,848 levels on Friday. Gold future contract for October 2023 expiry on Multi Commodity Exchange (MCX) ended at ₹57,096 per 10 gm levels.
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