COMEX Gold Off Two Month Low

Published on Jun 30, 2021 12:55

Global Gold prices tanked yesterday as the US dollar index moved up above 92 mark. COMEX Gold futures slumped as a recent slide under $1800 per ounce extended amid a strong bounce in the US dollar and persistent worries over the Indian demand situation. The yellow metal tanked near $1750 per ounce, testing around two month low. Gold traders also eyed the firm action in Bitcoin. The leading global cryptocurrency rose around 4% to rise above $36000 mark. Gold saw some buying at lower end though and currently trades at $1761 per ounce, down marginally on the day. The sentiments have been hurt heavily after this plunge and the metal is likely to see selling pressure on rallies unless the US dollar gives up bulk of its latest gains