Gold Pulls Back As Dollar Regains Momentum

6 Sep 2022 , 03:37 PM

Gold prices hit a one-week high level in early trades but failed to hold on to it as dollar regained lost momentum. The dollar index climbed 0.12% to trade at 109.65 following a brief pause in rally earlier in the day. The 10-year US Treasury note yield consolidated above 3.2%, not far from an over 10-year peak of 3.5% touched in June. Equities were mixed in Asia and European stocks failed to hold early gains to trade around the flatline on Tuesday as investors fret over an imminent recession and as concerns surrounding gas supply cuts from Russia worsen sentiments. COMEX Gold futures were quoting marginally lower at $1722.25 an ounce. Powered by Commodity Insights