Gold Broadly Supported As Equities Stay Under Stress

Published on Aug 20, 2021 16:17

COMEX Gold futures are holding just under $1790 per ounce mark today as wild downswing in commodities this week is looking to subside ahead of the weekend. The US Dollar index is holding well above 93 mark and is currently lingering at eight month high of 93.60. However, Gold is stabilizing on signs of a steady pick up in Indian economic activity. The metal managed to hold ground amid recent tumble in industrial commodities. The equity markets remained under stress in Asia and European stocks also opened on a downbeat note, offering good support to Gold.