Gold Continues To See Buying After Testing One Week Low
Published on Jan 20, 2021 12:22
Gold saw decent buying after testing around one week low. Janet Yellen, US President-elect Joe Biden`s nominee to run the Treasury Department has stated that the government must act big with its next coronavirus relief package. Traders focussed on the continuation of the ultra-easy monetary policy stance from the US Fed following these comments. Indian demand also supported Gold. According to the latest data from India`s Commerce ministry, India`s Gold imports stood at 33012.31 crores in December 2020, spurting around 88% compared to December 2019. Total Gold imports in April-December 2020 were at Rs 124468 crores, down 23.14% compared to April-December 2019. COMEX Gold trades up 0.74% at $1853 per ounce.
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