Gold Surges To Two Month High On COMEX

Published on Jan 05, 2021 11:49

COMEX Gold saw a sharp spike yesterday as the metal was in huge demand following the break above $1900 per ounce. A number of factors swung in favour of the metal with UK Covid scare being the topmost one. Worries over global geopolitics and some uncertainty on the US political front also boosted the yellow metal. Gold spiked more than 2.60% in US trades as equities slumped. The metal hit a more than 2 month high around $1950 per ounce. Prices slipped a little thereafter and the metal currently lingers at $1942 per ounce, down 0.20% on the day.