Gold Sees Rangebound Movement

Published on Jul 14, 2021 12:32

Gold futures saw sideways moves in the last session as gains were arrested due to a sharp spike in the US dollar. The dollar index surged by more than half a percent to approach near its recent three month high mark and kept gains under check in Gold though the ability of the metal to hold on above $1800 per ounce ensured that major losses were averted. COMEX Gold currently trades up 0.21% at $1813 per ounce. Gold traders are also eyeing a continued improvement in India`s economic undertone. India`s cumulative Covid-19 recoveries has exceeded 3 Crore people. This constitutes an overall recovery rate of 97.22%, which is showing a sustained increasing trend.