Gold Supported, Retail Demand In Focus

Published on Mar 17, 2021 11:33

Gold saw steady recovery as a bounce above $1700 per ounce mark extended. The US dollar saw modest gains but overall movement was choppy after the index recovered from a one week low. Gold traders are keeping a watch on Indian demand after recent slide took prices near one year low in retail markets. COMEX Gold futures are currently quoting at $1733 per ounce, up marginally on the day. The metal had hit a one week high near $1740 per ounce last week before easing. India`s Gold imports were at Rs 38492 crores in February 2021, recording a spurt of 127% compared to February 2020. The overall Gold imports during April-January FY21 stood at Rs 192461 crores, up 1.23% compared to same period last fiscal.