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COMEX Gold futures held near record high as muted action in the US dollar index and worries over global geopolitical scenario kept the metal largely supported. Equities also continue to see choppy moves globally, keeping Gold elevated. The latest US monetary policy meeting minutes suggested that officials want to see further progress on inflation before they consider resuming lowering interest rates. While this is twisting the outlook towards US monetary easing from hereon, Gold is still appearing optimistic amid surging Gold shipments from London market. The metal currently trades at $2965 per ounce, up 1% on the day. The RBI has noted in a latest update that Precious metals, particularly gold prices, recorded sharp increases in January, supported by safe-haven demand amidst increased geo-economic and trade uncertainties. MCX Gold futures are quoting at Rs 86475 per 10 grams, up 0.66% on the day, holding onto the break above Rs 86K.

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