Precious Metals Preview: Gold Unchanged; Dollar Stays Strong

12 Jul 2022 , 09:14 AM

Gold prices stay mostly unchanged as gains for the safe haven commodity amid recession worries is seen offset by a soaring US dollar overseas. The yellow metal is also looking ahead to the release of reports on consumer and producer price inflation, retail sales and industrial production later this week for further clarity. Gold futures for August is close to the flat line, down marginally by 0.04% at $1,731 an ounce. European stock markets dropped Monday with the pan-European Stoxx 600 index snapping a 3-day bounce as Nord Stream 1, the biggest single pipeline carrying Russian gas to Germany, shut for almost 2 weeks for annual maintenance. Powered by Commodity Insights