COMEX Gold futures slipped last week as a corrective slide from around one month high took charge amid a recovery in European and US equities. Global stocks rose after media reports stated that China and US are working toward a phase one trade deal despite fears of fresh tensions. This weighed on Gold and COMEX Gold closed around $1464 per ounce - its lowest mark in one week. Media reports noted that India's gold imports in November jumped 78% from a month earlier to the highest level in five months as jewellers in the world's second-biggest market for the metal restocked after a fall in prices from all time high near Rs 40000 per 10 grams. Given that the wedding season demand in retail bullion markets would increase in near term, the downside looks protected for Gold prices.
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