Gold Consolidates Around Two Month High

Published on Jan 06, 2021 12:12

Gold rose further as Covid worries remained in place and US dollar plunged near fresh three year low year. The UK appears to be heading towards a tough episode similar to what was witnessed in first quarter of last year with the daily Covid cases count hitting fresh high of 60000. Gold also benefited from the sustained losses in the US dollar index as it fell near a three year low under 89.40 mark. COMEX Gold futures stayed around two month high, consolidating just above $1950 per ounce.