Gold Weak, COMEX Futures Linger Around $1800 Per Ounce

Published on Nov 25, 2020 11:47

COMEX Gold remained purely in a bearish territory yesterday as soaring global equities and optimism on COVID-19 vaccines pulled the commodity to a four and half month low near $1800 per ounce. Prices dropped around 2%. Indian retail demand could witness a lull after Diwali induced buying though spot prices lingering well below Rs 50000 per 10 grams mark can keep the overall undertone supported for the local Gold market. COMEX Gold currently trades at $1801 per ounce, down 0.20% on the day.