Gold gaining some momentum

3 Oct 2022 , 12:12 PM

Gold is gaining some momentum in early Asian trades on Monday tracking weakness in the dollar index. The dollar index that measures the greenback against a basket of currencies is seen lower at 112.03 tracking lower benchmark treasury yields. The yellow metal is seen hovering near a two week high amid safe haven demand on growing fears of recession combined with recovery following a sharp decline in September. COMEX gold is attempting rebound near $1700 mark, hitting the days high at $1696.70 but eased thereafter and is currently quoting at $1672.20 an ounce. Powered by Capital Market – Live News