GOLD FALLS TO TWO WEEK LOW UNDER $1800 PER OUNCE

Published on Feb 17, 2021 13:32

COMEX Gold futures tanked yesterday amid continued surge in equities and extended corrective action on ideas that Covid-19 scenario is improving globally. The metal lost around 1.5% to test a two week low under $1790 per ounce. The number of reported global weekly COVID cases is falling and has dropped nearly 50% this year, the World Health Organization (WHO) said in a latest update. This shows the power of public health measures but there is a need to remain vigilant. Last week saw the lowest number of reported weekly cases since October, Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization (WHO) noted.