COMEX Gold Holds Just Under One Month High

Published on Jul 16, 2021 11:43

Gold continued to see good gains, consolidating just under one month high following hopes of a continued easy monetary policy by the US Fed. The US Fed Federal Reserve Chair Jerome Powell said on Wednesday that the US economy was still a ways off from levels the central bank wanted to see before tapering its monetary support. The US 10-year bond yields continued to ease after hitting a one week high of 1.42% and supported Gold. The yellow metal currently trades at $1825 per ounce, down 0.20% on the day. Largely improving sentiments on Indian economic front have benefitted the metal over last few days.