Gold Falls Around 1% To Approach Near $1980 Mark

Published on Mar 11, 2022 17:45

COMEX Gold futures failed to break above $2000 per ounce in volatile trades as risk appetite picked up strength in Europe. Media reports noted that Russian President Vladimir Putin said on Friday there had been some progress in Moscow`s talks with Ukraine. This pushed up major equity indices in Europe. Gold is currently trading at $1982 per ounce amid these developments, down around 0.90% on the day. Meanwhile, India`s gold imports surged to 1,067.72 tonnes in 2021 from 430.11 tonnes during 2020 when the demand was hit due to the COVID-19 pandemic, Gem Jewellery Export Promotion Council (GJEPC) said on Thursday. The gold imports in 2021 were also up by 27.66% from 836.38 tonnes during 2019.