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Nervous Equities Keep Gold Supported

Published on Jan 13, 2022 17:36

COMEX Gold futures saw a muted action today after hitting around one week high near $1830 per ounce in last session. The metal trades at $1820 per ounce, down marginally on the day but is witnessing steady buying on nervous equities given the constant spread of the Covid-19 globally. Asian stocks eased on corrective selling. Chinese benchmark Shanghai Composite index fell 1.17% on fears over lockdowns. Hong Kong`s Hang Seng edged up marginally. Japanese Nikkei 225 lost around 1%. European stocks turned lower in early moves today. US stocks stayed supported amid volatile trading yesterday. Gold remains broadly supported on sliding US dollar. The US Dollar Index broke under 95 mark today, extending recent losses and nearing three month low.

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