COMEX gold is taking a breather after a relentless decline from record highs attained earlier this month that took the commodity sliding by close to 4% till date in August. However, persistent geopolitical tensions in Middle East and expectations of a mightier than expected and near term rate cut by Federal Reserve is keeping the yellow metal supported. Gold futures are currently quoting at $2428.60 an ounce, down 0.16% on the day.

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