Gold Shines Domestically, Slightly Falters Abroad

In today's closing commodities update, gold surged by 0.81% to $51789 per half kg. In international markets, gold declined by 0.01% to $1937.30 per troy ounce. The XAU/USD rate however gained by 0.27% to $1928.63 per troy ounce.

The choppiness and overall volatility in today's trade is primarily due to the strength of the dollar at intervals today which stifled the momentum of gold. Investors should also be very careful on news coming from the Federal Reserve, as any hawkish move by Jerome Powell can lead to losses in the short term.