Gold Bounces Near Three Month High, India Daily Covid-19 Cases Fall

Published on May 17, 2021 12:51

COMEX Gold futures saw a remarkable bounce in last session as sustained losses in the US dollar and a steady drop in India`s Covid-19 cases boosted the meta. The US dollar index slipped near 90.30 mark, approaching its recent two and half month low. COMEX Gold futures added around 1.10% to end at $1844 per ounce, almost hitting a three month high. Meanwhile India logged 3.11 lakh fresh Covid cases on Saturday, taking the overall caseload to 2.46 crore. The latest daily count is the lowest in last three weeks.