Precious Metals Preview: Gold Under Pressure On Firm Dollar

17 Nov 2022 , 08:40 AM

Gold is seen under pressure in early Asia on Thursday tracking strength in the US dollar supported by stronger-than-expected U.S. retail sales data. US Retail Sales growth rose by 1.3% on month in October versus 1.0% expected and 0.0% prior. Firm dollar following benchmark US 10-year Treasury yields that rose 1.2 basis points (bps) to 3.70% was seen weighing down the yellow metal. The dollar index, which tracks the greenback against six main peers, was up 0.24% at 106.41. COMEX gold futures are currently quoting 0.32% lower at $1770.20 an ounce. Powered by Commodity Insights