COMEX Gold Hovers Just Above $1780 Per Ounce

Published on Jul 02, 2021 11:44

The undertone in global Gold prices was fairly steady after a recovery from around two-month lows. However, the gains in the commodity were capped amid record high US equities. The metal approached $1783 per ounce before easing a little as the US dollar index consolidated near a three month high. Meanwhile, local Gold traders also eyed weakness in the Indian Rupee. The Indian rupee fell to fresh two-month lows against the dollar on Thursday, as the dollar index strengthened to hit 3-month highs ahead of a US jobs report that could offer clues on when the Federal Reserve will start to pare back stimulus. Rupee dropped more than 20 paise to end the day at 74.55 against the dollar.