Gold rates slipped during the early part of the week gone by, but managed to recover later and closed almost flat for the week. December gold future contract on Multi Commodity Exchange (MCX) ended ₹131 lower at ₹52,540 per 10 gm levels on Friday whereas spot gold price finished at $1,754 per ounce levels. According to commodity market experts, China re-imposing Covid restrictions after record high infections, which is likely to hurt growth outlook of world’s largest gold consumer and demand for the yellow metal. They advised gold investors to wait for the correction and ride the next wave of upside in precious metal prices.
(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)