Precious Metals Preview: Gold Lingers Near One-Week Low

6 Dec 2022 , 08:14 AM

Gold prices recovered in early Asia on Tuesday as dollar reversed some of its overnight surge, gained on the back of improved data from the US that renewed expectations of Fed continuing to be aggressive on rate hikes. Prospects of a rate hike lifted US treasury yields and dollar alike. The dollar index that tracks the greenback against a basket of currencies recovered back above 105 mark overnight dragging down the yellow metal to its lowest level in almost a week. COMEX gold futures erased some of its previous day losses and are currently quoting up 0.21% at $1785.10 an ounce. Powered by Commodity Insights