COMEX Gold Sees Modest Gains

Published on Jun 27, 2022 12:38

COMEX Gold futures stayed mostly supported in a tiny range amid steady buying support as a combination of worries like the Russia-Ukraine war and the health threat posed by the monkeypox virus capped downside. The US Treasury yields also remained subdued and the US dollar hovered near the lowest in more than a week as investors continued to assess the outlook for US Fed interest rate hikes. The metal currently trades at $1837 per ounce, up 0.40% on the day. Meanwhile, the major global economies have agreed to ban gold exports from Russia at a G7 meeting as the world continues to retaliate against Russia`s invasion of Ukraine.