Gold Stays In Winning Mode

Published on Aug 12, 2021 12:55

COMEX Gold futures spiked after US inflation data. The US Labor Department released a report on Wednesday stating that its consumer price index climbed by 0.5% in July after jumping by 0.9% in June. Gold traders also eyed rising US daily coronavirus infections which have increased by nearly six times from the levels recorded a month ago. From an average of nearly 20000 cases reported on July 8, the seven day average has soared to around 110000 on Sunday, hitting the highest level in nearly six months. The metal hit above $1760 mark following a more than 1% surge.