30-Oct-2024

Precious Metals Preview: COMEX gold hits fresh record highs

COMEX gold futures hits fresh record highs on Wednesday morning in Asia even as dollar stays well supported above 104 mark despite mixed cues from US overnight. US data from the Jolts report showed job openings at their lowest since January 2021, alongside an increase in layoffs. Meanwhile, the Conference Board consumer confidence index rose sharply, marking its largest increase since March 2021. However, safe haven demand amid geo-political tensions in Middle East and apprehension ahead of US presidential results are keeping the yellow metal supported. Currently, the counter is quoting at $2791.00 an ounce, up 0.36% on the day.

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