Gold sees flat moves

Published on Jun 29, 2022 13:30

A firm dollar weighed on gold prices overnight although easing COVID restriction in China helped trim downside for the yellow metal. COMEX gold is trading close to the flat line at $1821.35 an ounce. However, dollar struggling to extend gains in early Asia is likely to add appeal for the precious metal. The dollar index, that measures the greenback against a basket of currencies is down 0.04% at 104.22, having gained 0.7% in the previous session. Investors are now awaiting Federal Reserve chair Jerome Powell speech that could provide hints about the likely monetary policy action in July.