COMEX Gold Sees Tight Action

Published on Dec 07, 2021 17:19

COMEX Gold futures are holding just above $1780 per ounce mark as strong gains in the US equities in overnight trades are capping upside for the metal. The market is trying to get clarity on the new variant of Covid-19. A massive pullback in leading cryptocurrency Bitcoin is also weighing on Gold. The Bitcoin prices have zoomed after a highly volatile movement over weekend which saw it test a two month low. The counter is currently up nearly 6% at $51100 mark. COMEX Gold stayed trapped in a tight range following this as highs around $1790 per ounce limited the upmove in the metal. COMEX Gold futures are currently trading at $1784 per ounce, up 0.25% on the day.