Gold Rises In Volatile Trades

Published on Aug 27, 2021 11:16

COMEX Gold futures saw volatile moves in last session. The metal cut losses after falling near $1780 per ounce mark as bargain buyers swung into action. The metal currently trades up marginally at $1801 per ounce. Gold dropped earlier as the President of the St. Louis Fed James Bullard stated that he is of the view that the central bank should start tapering bond purchases in the fall and finish the process by the first quarter of next financial year. He has also called for a rate hike by end 2022. This kept the US dollar index above 93 mark and weighed on Gold