GOLD SUSTAINS GAINS TO HIT ONE WEEK HIGH

Published on Dec 23, 2021 12:02

COMEX Gold broke above $1800 per ounce and approached a one week high as weakness in the US dollar and steady buying support at lower levels capped the downside for the metal. The dollar index has tumbled near 96 mark amid good risk appetite in world markets despite lingering Omicron worries. The shiny metal currently quotes at $1806 per pound, up 0.21% on the day. Equities are up in Asia on firm overnight cues. The US stocks stayed supported as investors assessed the Covid-19 scenario in the country. However, Gold is holding onto its own and the break above $1800 per ounce mark is likely to prove beneficial for the metal now.