Gold Tests One Month Low

Published on Oct 29, 2020 11:54

COMEX Gold futures fell in tune with risky assets in last session. The metal broke under $1900 per ounce and tested one month low under 1870 per ounce. The S&P 500 and the Dow hit their lowest levels since late-September on Wednesday as coronavirus cases surged globally and fears of a closely contested US presidential election next week added to worries. Gold traders eyed moves in US dollar too. US dollar index surged amid rising global risk aversion and worries over spread of Covid-19 in Europe. Fresh lockdown measures have been issued in Europe which is yet again turning into the global epicentre of the pandemic. Dollar index hit a one week high of 93.66 in last session.