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Precious Metals Preview: Gold Stays Pressured By Dollar Strength

28 Oct 2022 , 09:14 AM

Gold prices stayed close to yesterdays sharp decline, pressured by dollar strength amid stronger-than-expected third-quarter U.S. GDP data. The dollar index and treasury yields were boosted by signs of resilience in the US economy that gives the Federal Reserve more headroom to keep raising interest rates at an aggressive pace. COMEX Gold futures were currently quoting up 0.14% at $1667.90 an ounce as dollar index came off overnight peaks. Powered by Commodity Insights

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