Precious Metals Preview: Gold Struggles To Recover Above $1800 Mark

16 Aug 2022 , 08:58 AM

Gold prices edged lower tracking sharp gains in the US dollar overnight as investors preferred dollar as the safe haven asset amid rising worries of a slowdown in China. The dollar index that measures the greenback against a basket of currencies continues to hover near 106 mark. Meanwhile, lower treasury yields could give some respite to the commodity, even as prospects of further rate hike by the Fed is likely to add pressure on the yellow metal. COMEX gold futures are trading down 0.07% at $1796.80, struggling to gain above $1800 mark. Powered by Commodity Insights