COMEX Gold Consolidates Around Three Week High

Published on Aug 31, 2021 15:15

COMEX Gold futures consolidated around three week high today as a recent break above $1800 per ounce mark managed to provide enough buying support for the commodity. The Indian demand scenario is looking mostly positive as restrictions related to Covid-19 ease and consumer spending picks up ahead of festive season. Gold also positioned itself for further gains in September which is normally considered to be a positive month for the prices. The US dollar index lingered around 92.50 mark, keeping undertone positive for the yellow metal. The COMEX Gold futures are currently quoting at $1816 per ounce, up 0.25% on the day.