Precious Metals Preview: Gold Buoyed By Lower US treasury Yields; Dollar Weakness

24 Nov 2022 , 08:58 AM

Gold futures added gains on Thursday as dollar retreated following Fed minutes that indicated slower pace of interest rate rises. The yield on the US 10-year Treasury note dropped toward 3.7%, the lowest in a week after the latest Fed minutes while dollar index dragged lower by 0.33% at 105.62. Policymakers also noted that with inflation showing little sign of abating, and with supply and demand imbalances in the economy persisting, the ultimate level of the federal funds rate that would be necessary to achieve the Committees goals was somewhat higher than they had previously expected. Gold futures rose more than 0.6% to $1756.20 an ounce. Powered by Commodity Insights