COMEX Gold Lingers Around $1800 Per Ounce

Published on Dec 30, 2021 12:26

COMEX Gold futures saw a hurried selloff in last session as the US dollar index soared near 97 mark and US equities soared to record highs. The yellow metal pulled back sharply once $1800 mark gave up and tested a one week low around $1790 per ounce. The Dow rose 90.42 points or 0.3% to 36,488.63, closing high for the sixth consecutive session. The S&P 500 also edged up 6.71 points or 0.1% to 4,793.06, hitting fresh record high. Gold stabilized following this correction amid bargain buying and pushed up above $1800 mark. Firm crude oil prices and good Indian demand prospects are capping the downside for the metal. The metal currently lingers around $1800 per ounce amid cautious trading on second last day of the year.