COMEX Gold Recovers To Trade Near $1890 Per Ounce

Published on Nov 17, 2020 11:54

COMEX Gold futures took a sharp hit in US session as Covid-19 vaccine optimism hurt the metal. Moderna Inc said its vaccine candidate proved highly effective in preventing COVID-19 infections. Last week, similar update had come from Pfizer. COMEX Gold had edged up towards one week high last week and tried to consolidate around the same level but the Moderna news took a heavy toll on the metal and took it all the way near $1860 per ounce. This intraday fall of around 2% was bought into though as traders focused on reports of good Indian demand around Diwali. COMEX Gold trades at $1889 per ounce, flat on the day.