Gold saw decent buying after testing around one week low. Janet Yellen, US President-elect Joe Biden's nominee to run the Treasury Department has stated that the government must act big with its next coronavirus relief package. Traders focussed on the continuation of the ultra-easy monetary policy stance from the US Fed following these comments. Indian demand also supported Gold. According to the latest data from India's Commerce ministry, India's Gold imports stood at 33012.31 crores in December 2020, spurting around 88% compared to December 2019. Total Gold imports in April-December 2020 were at Rs 124468 crores, down 23.14% compared to April-December 2019. COMEX Gold trades up 0.74% at $1853 per ounce.

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