Gold Sees Steady Uptick

Published on Jul 01, 2021 09:44

COMEX Gold futures edged up as a recovery from around two-month lows continued. Good bargain buying was seen after the Federal Reserve Bank of Atlanta President Raphael Bostic stated that the phase of high inflation will be longer than expected. Gold also benefitted from generally upbeat movement in commodities with Copper and crude rallying despite good strength in the US dollar index. The metal currently trades at $1775 per ounce, up 0.21% on the day. Gold benefitted from the slide in Bitcoin which reversed gains seen on Tuesday with a near 4% tumble taking it to under $35000 mark.