Gold Eases Under $1800 Per Ounce

Published on Feb 25, 2021 12:10

COMEX Gold futures continued to pull back from one week high as soaring US treasury yields weighed on the metal. The US stocks saw firm action as buyers were active amid supportive economic cues and lax US monetary policy outlook. The rally in equities also capped gains in Gold as the metal fell under $1800 per ounce mark. The commodity currently trades at $1893 per ounce, down 0.23% on the day. The DOW hit another record as US Fed Chair Jerome Powell continued to provide with dovish cues regarding the US interest rates. This is keeping the overall undertone supportive for Gold.