Reuters
Gold rose today, recovering from its lowest level in six weeks, which it touched in the previous session, as stocks fell due to political turmoil in Washington and the slow pace of Corona vaccination around the world.
Spot gold rose 0.8 percent to $ 1860.10 an ounce, by 07:24 GMT, and prices touched their lowest levels since the second of last December, and US gold futures won 0.5 percent to $ 1860.
“We are seeing a technical boom in gold after investors sold it to take some profit in the previous two sessions,” said Kunal Shah, head of research at Nirmal Bang Commodities in Mumbai.
“The overall picture is still positive for gold,” said Nicholas Frapple, general manager at ABC Bollion, adding that in the short term, gold is still at risk of affecting sentiment towards the dollar and returns.
Source: Reuters
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