COMEX Gold fell under $1200 per ounce and tested a fresh one month low mark yesterday. However, losses in US equities and a slight moderation in US dollar led to some buying in the commodity. The metal is currently trading at $1203 per ounce, up 0.18% on the day. MCX Gold futures ended down 0.76% at Rs 30764 per 10 grams amid modest gains in Indian Rupee. There is a possibility that domestic retail demand would gain strength as spot prices fall under Rs 31000 levels and that could bring some relief to Gold after the recent spate of losses.

Meanwhile, in a company update, RNC Minerals Corporation reported that the production from the Beta Hunt Mine led to 13,497 mined gold ounces for the month of October 2018 at an average grade of 9.06 g/t. Year-to-date October 31, 2018 mined gold ounces was 71,957, an increase of 60% versus the prior year period, including 25,355 ounces thus far from the Father's Day Vein and a total of 30,145 ounces of high grade coarse gold from all areas. Mining of high grade coarse gold has resumed in the Father's Day Vein discovery area.

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