Precious Metals Preview: Gold Sees Good Rebound From Three Week Low

Precious Metals Preview: Gold Sees Good Rebound From Three Week Low

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Gold saw good rebound amid escalating global geo-political worries.

The US Secretary of State Mike Pompeo on Wednesday noted that Hong Kong is no longer autonomous from China while US President Donald Trump said he plans to make an announcement by the end of the week regarding Chinas efforts to undercut Hong Kongs autonomy.

Chinas Foreign Ministry also stated that it would respond if the US if it took any action over its security laws in Hong Kong.

This pushed up the metal from a three week low even as US equities soared. DOW added to latest gains as investors focused on the gradual rollback of lockdown measures across the US and much of Europe. The yellow metal currently trades at $1711 per ounce, up 0.02% on the day.

MCX Gold futures fell under Rs 45800 per 10 grams mark and closed at Rs 46450 per 10 grams, up 0.27% on the day.

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