Gold Surges In Volatile Trading

Published on Dec 24, 2021 11:55

Gold saw volatile moves in last session but a strong bounceback in intraday moves kept the overall mood well supported for the commodity. An upbeat action in US equities pulled the metal lower yesterday with the COMEX Gold futures tanking near $1785 per ounce. However, weakness in the US dollar and positive cues from other commodities pushed Gold impressively with the metal edging back above $1800 mark in style. The counter currently trades flat at $1810 per ounce, almost unchanged on the day. Gold has managed to hold on despite reports stating that the Omicron strain may not be as vicious as initially feared. The ability of the metal to hold above $1800 per ounce mark is also triggering good buying in the counter now.