Gold holds above $1800 per ounce

Published on Dec 26, 2022 17:28

COMEX Gold futures regained $1800 per ounce mark as soaring global Covid cases and worries over a sharp spike in infections in China supported the metal. COMEX Gold futures tanked nearly 2% on Thursday amid worries over the US monetary policy as US economic activity jumped more than previously estimated in the third quarter, according to revised data released by the Commerce Department. The report showed the surge in real gross domestic product in the third quarter was upwardly revised to 3.2 percent from the previously reported 2.9 percent. Meanwhile, the global daily Covid-19 cases count has hit around three month high with infections soaring in China, US, Germany and Brazil.