Gold Off Three Week High, Hovers Around $1800 Mark

Published on Dec 21, 2021 17:05

COMEX Gold futures are hovering around $1800 per ounce mark as a recovery in global equities sapped the safe haven appeal of the metal. The commodity had hit three week high as fears over the rapidly spreading omicron coronavirus variant boosted the metal. The surging omicron cases have triggered tighter restrictions in Europe and it is still unclear how the overall situation will evolve in coming days. The commodity also tracked a sharp spurt in the Bitcoin values today. The leading cryptocurrency is up 6% to $48600 right now, thereby capping upside in Gold. The yellow metal currently trades at $1798 per ounce, up 0.20% on the day.