Weekly Gold Review: COMEX futures recover from two-month low but broadly remain under stress
Mumbai, May 30 -- COMEX Gold steadied after testing near two-month low amid some bargain buying. The metal eased as easing geopolitical tensions following reports of a preliminary US-Iran agreement helped calm inflation and interest rate concerns. The metal ended up 1% for the week at $4569 per ounce. Gold futures saw persistent selling pressure linked to higher oil prices and tighter monetary policy expectations in last few weeks. The dollar index remained firm near its strongest level in six weeks, after the latest FOMC minutes reinforced expectations that the Federal Reserve could still keep the door open for further rate increases if inflation fails to moderate toward the 2% target. The stronger greenback continued to weigh on precious ...
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