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Gold Manages To Hold Above $1800 Mark

Published on Jul 23, 2021 12:37

COMEX Gold futures moved up from one and half week low and edged up above $1800 per ounce in last session. The metal currently trades up marginally at $1806 per ounce. Traders focused on the Covid-19 situation globally. The officials from the World Health Organization have called on richer nations this week to step up vaccine donations to a region where immunization rates remain perilously low. Meanwhile, cases are rising in the US too. The seven-day rolling average for daily new cases in the US rose over the past two weeks to more than 37,000, up from less than 13,700 on July 6, according to data from Johns Hopkins University. The metal also tracked rising commodity prices and gained good ground in intraday moves.

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