GOLD DOWN MODESTLY IN ASIAN TRADES

Published on Jun 17, 2022 11:47

Gold is marginally down in Asia following an overnight surge as early recovery in dollar shuns appeal for the yellow metal. The US dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.5% to 103.93. However, damp US treasury yields trading at its lowest level in almost a week is likely to drag down dollar that could support gold to some extent for the day. The 10-year US Treasury yields have plunged by more than 3% to near 3.20% that could weaken the DXY further. COMEX Gold is currently down 0.15% at $1846.85 an ounce.