Gold Cuts Losses Seen In Asian Trades

6 Apr 2022 , 03:25 PM

Gold edged up on continued worries over Russia-Ukraine war. The top US military officer told lawmakers Tuesday that the world is becoming more unstable and the potential for significant international conflict is increasing, not decreasing. Gold futures had turned lower in Asia as the US dollar index jumped to three year high above 99.50 and Treasury yields hit multi-year highs after Fed Governor Lael Brainard said overnight that she expected a combination of interest rate rises and a rapid balance sheet runoff to take US monetary policy to a more neutral position later this year. The metal moved up as the stocks tumbled in Europe and COMEX Gold is currently trading at $1932 per ounce, up 0.25% on the day. MCX Gold bounced from lows near Rs 51300 per 10 grams and currently trades at Rs 51686 per 10 grams, up 0.69% on the day.

Powered by Commodity Insights