Gold Stays Supported, Equities Falter

19 May 2022 , 05:07 PM

COMEX Gold futures remained well supported today as heavy risk aversion took a toll on the global markets. Asian equities saw heavy selling today on bleak overnight US cues. European markets also ensured massive losses in early moves. Major indices in Europe are down around 2%. The US stocks showed a substantial move back to the downside during trading on Wednesday. With the steep drop on the day, the Dow and the S&P 500 ended the session at their lowest closing levels in over a year. Such a heavy slide in world stock markets triggered good safe haven buying for the yellow metal and the commodity currently trades at $1827 per ounce, up 0.66% on the day. Powered by Commodity Insights