Precious Metals Preview: COMEX Gold Edges Higher, Covid-19 Scenario In Focus

Precious Metals Preview: COMEX Gold Edges Higher, Covid-19 Scenario In Focus

Jul 23, 2021 09:07 IST capital market

COMEX Gold futures moved up from one and half week low and edged up above $1800 per ounce in last session. Traders focused on the Covid-19 situation globally. The officials from the World Health Organization have called on richer nations this week to step up vaccine donations to a region where immunization rates remain perilously low. Meanwhile, cases are rising in the US too. The seven-day rolling average for daily new cases in the US rose over the past two weeks to more than 37,000, up from less than 13,700 on July 6, according to data from Johns Hopkins University. The metal also tracked rising commodity prices and gained good ground in intraday moves. MCX Gold futures ended at Rs 47633 per 10 grams, up 0.13% on the day after testing around Rs 47300 mark.

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