Gold Lingers Around $1790 Per Ounce

Published on Feb 22, 2021 12:20

COMEX Gold extended its recovery today and currently trades at $1789 per ounce, up 0.65% on the day. Gold pushed up in last session as bargain buying lifted the prices from seven month low amid extremely choppy cues from the US equities and continued weakness in the US dollar. Gold could likely see some consolidation if equities enter into a risk off mode in near term. US dollar index has been facing a tough resistance on the higher side and flipped back towards its recent three week low on Friday. Indian retail demand is also looking up after the sharp drop in prices over last one month.