loader2
NRI

GOLD LINGERS AROUND $1800 PER OUNCE

Published on Oct 28, 2021 11:49

Gold stayed supported on hopes of sustained buying support in retail markets in India as festive season is gearing up for its peak. Impressive vaccinations and a sustained downtick in daily Covid-19 cases in the country is benefiting the metal. A major factor working in favor for the metal right now is a sharp pullback in leading cryptocurrency Bitcoin as it fell under $60000 mark and lost nearly 6% amid hefty selling pressure. COMEX Gold approached near $1800 per ounce on these cues and currently hold near the same mark. Some stress is visible in equities in Asia as Chinese property sector worries weighed on the sentiments.

Powered by Capital Market - Live News