Gold Slackens Under $1750 Mark, Dollar In Demand

21 Nov 2022 , 01:15 PM

COMEX Gold futures have flipped lower, falling amid a renewed wave of strength in the US dollar and sustained losses in the crude oil prices. The yellow metal currently quotes at $1746 per ounce, down 0.45% on the day. The US dollar index currently trades above 107 mark as a rally from recent lows gained fervor. Gold is likely to track the global geopolitical cues closely in near term Ukraines Zaporizhzhia Nuclear plant has been hit damaging equipment in attacks that the United Nations nuclear watchdog agency called extremely disturbing. The shiny metal has now corrected by around 50 dollars after hitting a three month high near $1800 per ounce and currently lingers around one and half week low.Powered by Commodity Insights