Gold Supported In Choppy Trades

Published on Jun 08, 2021 12:47

COMEX Gold futures stayed largely supported in choppy trades today. Positive developments on the Covid-19 front in India capped losses for the metal after the commodity broke under $1900 per ounce in the last session. India reported less than 1 Lakh daily new cases after 63 days. 86,498 new cases reported in last 24 hours; lowest in 66 days. India`s Active Caseload further declines to 13,03,702. Active cases decreased by 97,907 in last 24 hours. 2,73,41,462 total Recoveries across the country so far. 1,82,282 patients recovered during last 24 hours. Recoveries continue to outnumber the Daily New Cases for the 26th consecutive day. The overall Covid-19 recovery rate has increased to 94.29% and it overall augurs well for the consumption demand in the country. COMEX Gold is currently trading slightly under $1900 per ounce mark, almost unchanged on the day.