Precious Metals Preview: COMEX Gold Hits One Week High

3 Feb 2022 , 08:57 AM

COMEX Gold futures saw a good recovery in last session, recovering from a low under $1800 per ounce to test a one week high of $1811 per ounce as markets eyed the overall Covid-19 scenario. The World Health Organization said in a latest update that it is now starting to see a very worrying increase in deaths, in most regions of the world. WHO is also concerned that a narrative has taken hold in some countries that because of vaccines, and because of Omicrons high transmissibility and lower severity, preventing transmission is no longer possible, and no longer necessary. It stated that the virus is dangerous, and it continues to evolve. WHO is currently tracking four sub-lineages of the Omicron variant of concern. MCX Gold futures closed at Rs 48053 per 10 grams, up 0.29% on the day.

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