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Bargain Buying Lifts COMEX Gold Above $1840 Per Ounce

Published on Dec 15, 2020 12:06

COMEX Gold futures started the new week on a tepid note as firm global risk appetite weighed on the commodity. The metal tested a one and half week low of $1820 per ounce as Food and Drug Administration authorized an emergency rollout of a protective vaccine from Pfizer Inc and its German partner BioNTech. COMEX Gold futures rose in US session though as bargain buying lifted the commodity amid continued weak undertone in the US dollar index. The metal currently quotes at $1843 per ounce, up 0.61% on the day. Speculative fund buying remains active in the commodity after recent losses that took the metal to a five month low in last month.

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