Gold Pulls Back Under $1640 Mark, Dollar Rallies

19 Oct 2022 , 06:24 PM

A solid jump in the US dollar weighed on Gold today as the yellow metal fell 1% to $1639 per ounce. The dollar index jumped 0.68% to 112.76 amid a mostly choppy session for global equities today. Asian stocks fell with markets still waiting for Chinese economic data. Chinas Shanghai Composite Index fell 1.19% and Hong Kongs Hang Seng index lost 2.30%. Japans Nikkei 225 index gained 0.37%. European shares saw a mixed movement. Some gains were seen in French CAC index while German DAX index was flat. Gold has dipped to around three week low following the latest slide. MCX Gold is trading at Rs 50339 per 10 grams, down 0.15% as a wild slide in the Indian Rupee, which fell to beyond 83 per US dollar for the first time, capped the losses. Powered by Commodity Insights