Precious Metals Preview: Gold Is Staying Cautious As Dollar Firms Ahead Of Jackson Hole

26 Aug 2022 , 08:56 AM

Gold prices eased on Friday as dollar is seen firming ahead of the crucial Jackson Hole Symposium later in the global day for further cues on Feds onward path on rate hikes. The dollar index is tracking higher yields and is likely to determine further direction for the yellow metal. The US dollar index DXY was last up 0.11% at 108.53, holding just below a 20-year high of 109.29 reached on July 14. Benchmark treasury yields are hovering above 3% mark. Meanwhile COMEX gold futures are down 0.20% at $1767.90 an ounce. Powered by Commodity Insights