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Gold Supported, Dollar Index Eases After Latest Spurt

Published on Jun 22, 2021 11:38

Gold stayed broadly supported yesterday as the US dollar index slipped under 92 mark. The metal added to these gains and currently trades up 0.37% at $1789 per ounce. The daily Covid-19 cases count has dropped near three month low and vaccinations have been impressive. The Health Ministry on Monday said a record 80 lakh doses of Covid vaccines were administered on Day one of implementation of `Revised Guidelines for Covid Vaccination`. While vaccines were so far free for people above 45 years of age, under the revised guidelines that came into play from Monday, the facility has been extended to everyone above 18 years. This should boost the Covid-19 management efforts further. Gold futures will be keenly eying the return of the consumers to the retail sport bullion marketplace though and the yellow metal may face selling pressure on higher side unless buying picks up strength.

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