Massive surge in US dollar is dragging down appeal for gold that is lingering below $1650 an ounce in early Asia on Monday. Rising yields on prospects of further hawkish stance of the Federal Reserve on interest rate hikes is reducing sheen for the yellow metal. The US dollar index is hovering at fresh two decade peaks of 113.60, having hit 114 levels earlier in the day while benchmark US treasury yields are staying close to 3.8%. Meanwhile, COMEX gold is currently quoting down half a percent at $1647.10 an ounce. Powered by Commodity Insights
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