Gold Prices Pause Rally as India s Covid Infections Surge, US Jobless Claims Fall
of clients are net short. Long
News
of clients are net short. Long
News
GOLD PRICE OUTLOOK:
Reduced demand for gold from India may be offset by rising Chinese imports
US jobless claims came lower-than-expected, denting the appeal of gold as a safe haven
Gold prices paused a rally and retreated form an eight-week high after India reported the world’s highest daily Covid-19 infections of 314,835 on Thursday. The rapid spread of the virus in the country dented the demand outlook from the world’s fourth largest bullion importer. India imported US$ 32.2 billion worth of gold, or 10.5% of the world’s total in 2019.