Precious Metals Preview: Gold Pressured By Dollar Recovery In Early Asia

2 Dec 2022 , 09:05 AM

Recovery in dollar in early Asia on Friday is seen adding some pressure on gold prices although the bullion continues to hover near a three-month high. The dollar index that measures the greenback against a basket of currencies bounced back to 104.70 tracking 10year benchmark US treasury yields that recovered to 3.53% on Friday. However, the yellow metal is set for their best week in three supported by sharp decline in dollar in recent times on expectations that the U.S. Federal Reserve will slow the pace of interest rate hikes. COMEX gold futures are currently quoting down 0.20% at $1811.50 an ounce. Powered by Commodity Insights