Gold Wavers Around $1740 Per Ounce, Indian Covid-19 Scenario Stays In Focus

Published on Apr 15, 2021 12:52

Gold stayed slippery as a drop from highs around $1750 per ounce continued. Gold also stayed under check as the US equities consolidated around record highs. COMEX Gold futures are trading at $1739 per ounce, unchanged on the day. Traders are also keeping a watch on the massive rise in the Indian Covid-19 cases in a number of states and a tepid summer demand season ahead. Given the surge in global Covid-19 cases, the case for Gold as a safe haven remains strong. However, the overall demand from funds and end users will certainly take a hit in current scenario and a firm undertone in world equities is not helping the yellow metal much either.