Precious Metals Preview: Gold Dips As Dollar Rebounds

31 May 2022 , 08:55 AM

Gold fell back below $1860 mark after briefly regaining the levels in the previous session as dollar saw a slight rebound overnight. US treasury yields bounced to a weeks high, rising above 2.8% mark, propelling gains in the dollar. The dollar index, which measures the greenback against a basket of currencies snapped a three-day downtrend around a five-week low, and is currently quoting near 101.65 levels. Moreover, firm Asian stocks on improving risk appetite amid easing Covid led restrictions in China is adding to woes for the yellow metal. COMEX Gold futures is seen at $1854 an ounce. Powered by Commodity Insights