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Gold Bounces Near $1800 Per Ounce

Published on Aug 23, 2021 17:31

Gold jumped near $1795 per ounce today, rising more than half a percent after witnessing a choppy trading pattern last week as weak US dollar supported the commodity. The US dollar weakened against other major currencies on Monday, after registering its biggest weekly rise in more than two months last week fueled by concerns regarding the rising delta variant Covid cases in many parts of the world and the ensuing impact on global growth. The dollar index, measuring its performance against main rivals, added to Friday`s losses and quotes down 0.26% at 93.26. The MCX Gold futures are trading at Rs 47300 per 10 grams, up 0.30% on the day.

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