Weekly Gold Review: COMEX futures hit two-week high before easing
Mumbai, July 11 -- COMEX Gold futures eased as markets remained transfixed on the geopolitical scenario and worries over seasonally weak demand in Indian physical markets weighed on sentiments. COMEX Gold spiked around two-week high above $4200 per ounce but failed to sustain and ended the week marginally higher at $4130 per ounce. In a key update for the metal, World Gold Council or WGC has stated in a latest update that Gold-backed exchange traded funds or ETFs flows data for June saw continued outflows from funds listed in all regions, yet global gold ETF flows have remained positive y-t-d. Global gold ETFs' AUM reached US$526billion (bn) by the end of June, a 6% fall in H1 due mainly to a lower gold price; collective holdings in the fir...
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