Sharp Pullback In Dollar Supports Gold

19 Jul 2022 , 05:12 PM

Gold is seeing good recovery on the back of sharp pull back in the US dollar overseas. The dollar index is shedding losses under 107-mark. Mixed show in Asian stock markets on Tuesday, following the broadly negative cues from Wall Street overnight amid concerns about the economic outlook ahead of next weeks US Federal Reserve monetary policy meeting and new wave of COVID-19 infections in China is aiding gains in the safe haven commodity. COMEX gold is sustaining gains above $1700 an ounce levels. Besides, Bitcoin futures in the negative after soaring more than 4% to hit above $22000 mark in the previous session is also supporting the yellow metal. Powered by Commodity Insights