Gold Hovers Around Two Week High

Published on Dec 17, 2021 16:26

COMEX Gold futures raced higher yesterday, extending a bounce from two month low as worries over Covid-19 stayed in place. Covid-19 infections and hospitalizations are rising once again, prompting a new wave of cancellations and disruptions as the country prepares for another pandemic holiday season. With the US averaging around120000 new Covid-19 cases each day around 40% higher than a month ago, per Johns Hopkins University data. Gold broke above $1800 per ounce mark and currently trades up 0.28% at $1802 per ounce. The metal is hovering around two week high following the latest spurt.