COMEX Gold saw sideways moves. The metal witnessed selling pressure around three-week highs after wave of gains in last few sessions. The US dollar index managed to hold around 99 mark. Markets are eying an end to the historic US government shutdown and will focus on the regular flow of economic releases from next week. The metal tanked under $4100 per ounce though it managed to rise around 2% for the week. There is some concern about the near-term US monetary policy outlook as Cleveland Fed President Beth Hammack stated that while there has been some softening in the labor market, inflation, at around 3%, still remains above the Fed's 2% target. Due to inflation persistently outpacing the Fed goal, we need to remain somewhat restrictive to put pressure on inflation, she said at the Economic Club of Pittsburgh. MCX Gold futures ended around Rs 123400 per 10 grams mark, recording a steep slide of 2.60% on 14th November. With this slide, some concerns are likely to emerge about the near term retail demand trends in India heading into the yearend.

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