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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.

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