COMEX Gold Rallies Near $1800, Dollar Index Softens

Published on Apr 22, 2021 12:27

The COMEX Gold futures saw excellent gains yesterday as a dip under $1770 per ounce on Tuesday opened up plenty of buying interest in the metal from funds. The US dollar stayed lax, lingering around 91 mark and not very far from a recent seven week low. Gold also stayed supported as metal prices rose globally with Copper staying elevated despite rising Covid-19 worries. The COMEX Gold futures rallied above $1790 per ounce and currently lingers at $1793 per ounce, up marginally on the day. It seems that the extremely tepid outlook for bullion retail sales in India is not affecting the sentiments much for Gold.