MCX Gold futures are expected to open on a mixed note as the prices came off highs near $1350 an ounce in the global arena and trade around $1340 an ounce right now. The US dollar seems to be holding the key for the yellow metal right now and unless the greenback drops well above 1.4000 mark against the Euro, Gold could find it difficult to get back to its winning ways.
The COMEX Gold futures for December jumped by around 25 dollars in intraday moves to top a high of $1348.93 in Asia before it fell back off and extended its losses throughout the European session. Prices fell further in early New York trades, bottoming out at $1333.30 per ounce. The commodity ended at $1338.70 per ounce, still adding $14.20 per ounce from the previous close after a massive drop in the last session.
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