Precious Metals Preview: Gold Down Below $1830 Levels

22 Jun 2022 , 09:10 AM

Gold prices are down on Wednesday as dollar renews gains ahead of Powell testimony. COMEX gold slid below $1830 levels as investors were on the sidelines ahead of the testimony that could further guide Feds decision on quantum of rate hike. The dollar, index, that measures the greenback against a basket of currencies is higher by 0.15% at 104.36. In U.S. economic news, the National Association of Realtors released a report showing another steep drop in U.S. existing home sales in the month of May. NAR said existing home sales plunged by 3.4 percent to an annual rate of 5.41 million in May after slumping by 2.6 percent to a revised rate of 5.60 million in April. Powered by Commodity Insights