Gold Rises After Falling More Than 2% In Last Session

September 17,2021

Gold tried to edge up after mega losses in last session. The metal tanked yesterday as a slide under $1800 per ounce level. The commodity fell more than 2% in US session to test a one month low of $1755 per ounce as the US dollar index approached 93 mark. Dollar gained after the US retail sales rose in August, reflecting continued strength in the US economy. Gold fought back today though as the US dollar eased a little and bargain buying lifted the sentiments up for the metal. COMEX Gold currently trades up 0.52% at $1865 per ounce. The failure of Bitcoin to hold its four month high near $53000 and the subsequent tumble near $48000 mark is also capping downside in Gold.

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