Precious Metals Preview: Gold Stays Supported By Dollar Weakness

6 Oct 2022 , 08:59 AM

Gold stayed bullish in early Asia on Thursday, supported by decline in the US dollar index overseas tracking weak treasury yields. The dollar index that measures the greenback against a basket of currencies fell below 111 even as improved data from the US and hawkish remarks from policymakers build case for more aggressive rate hikes. US 10 year yields have also fallen dramatically below 3.80%. COMEX gold is currently up more than half a percent at $1731.75 an ounce, near a three-week high. Powered by Commodity Insights