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Gold futures end sharply lower on economic recovery optimism

28 Nov 2020 Evaluate
Gold futures ended sharply lower on Friday, marking the biggest weekly slide for the commodities since late September as the peaked risk appetite in the market amid optimism on economic recovery with the news on covid vaccine and a smooth White House transition dulled the safe haven investment appeal of the bullion. The yellow metal fell about 4.7% so far this week, the biggest since the week of March 13.

Gold futures for December delivery finished $23.60, or 1.3%, lower to end at $1,781.90 an ounce on the Comex division of the New York Mercantile. Spot gold  slid 1.4% to $1,785.11 per ounce.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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