COMEX Gold Holds Just Under Two Month High

Published on Jan 25, 2022 12:52

COMEX Gold stayed well supported amid intense selling pressure in global equities and good safe haven demand on the Russia-Ukraine crisis. A deep slide in Bitcoin, which fell near a six month low also supported the commodity and COMEX Gold currently trades flat at $1840 per ounce, not far from its recent two month high. Asian equities are down despite a sharp reversal in the US stocks, highlighting the stress in risky assets ahead of the US Fed monetary policy meeting and Gold should see steady buying support amid such a scenario.