Gold recovers after worst sell-off in six weeks, shows data

Gold consolidated above the key $1,800 per ounce level on Tuesday, after a sharp retreat in the last session, as some investors sought cover from pandemic-led uncertainty, inflation and its likely impact on the US Federal Reserve’s rate hike trajectory.

 

But in New Delhi, the yellow metal plunged by Rs 302 to Rs 46,814 per 10 gram, reflecting the overnight decline in international prices.

 

Spot gold edged 0.1 per cent higher at 1,808.69 per ounce at 18.40 pm IST, after recording its worst session in more than a month on Monday.