COMEX Gold Trades Down Half A Percent In Asia

Published on Sep 16, 2021 12:49

COMEX Gold failed to sustain above $1800 per ounce mark on firm US equities. The US stocks saw good buying as energy and industrial counters. Gold dropped under $1800 per ounce after a good bounce took it near a one week high earlier in the week. The counter currently trades flat around $1794 per ounce. Bitcoin spiked more than 3% to test $48000 mark in the US session, capping upside in the yellow metal. A massive spurt in Indian equities, which hit a fresh record high in the last session could take away some of the charm from the metal as investors will likely be comfortable in chasing stocks instead of Gold. COMEX Gold has also extended losses after breaking under $1800 per ounce mark and currently trades down half a percent at $1786 per ounce.