Gold Sees Muted Trades After Breaking Under $1800 Mark

Published on Aug 26, 2021 17:42

COMEX Gold cut losses today. The futures slipped as a failure to hold above $1800 per ounce mark weighed on the counter. COMEX Gold futures are trading down 0.22% at $1787 per ounce. Losses were curbed as Bitcoin fell more than 1% to quote around $46800 mark, extending a drop from four-month highs. MCX Gold futures are trading flat Rs 47115 per 10 grams. Meanwhile, the World Gold Council (WGC), stated in a latest update that economic conditions are improving, but inflation and rates expectations are increasing with some commodity supply shortages, which are likely to support commodity performance. Reinforced by increased investor appetite for commodity allocations, broad-based commodity investments can be used as a source of returns and diversification. But the benefits tend to be tactical.