COMEX gold races near a six week high on Monday morning in Asia amid sustained weakness in greenback overseas on rising prospects of an interest rate cut by the Federal Reserve (Fed) in its monetary policy meeting this month. The US ISM Manufacturing PMI will be published later in the day will be closely watched for further cues. Optimism surrounding peace talks between the United States and Ukraine could however reduce gold's appeal as a safe-haven asset. Currently, the counter is quoting at $4274 per ounce, up half a percent following an over 6% gain in the month of November.

Powered by Commodity Insights