GOLD FLIPS BACK AFTER HITTING TWO WEEK HIGH

Published on Jan 22, 2021 12:44

COMEX Gold eased yesterday as two week highs above $1870 per ounce failed to sustain. Profit selling emerged in the metal as traders focused on the upbeat performance in the production of Gold miners and also kept an eye on their positive outlook towards the output in coming months. A modest increase in US 10 year treasury yield from one week low to above 1.10% also pulled Gold lower. COMEX Gold fell near $1860 per ounce following this slide. Positive outlook on Indian demand capped losses.