Gold tests two week low

Published on Apr 18, 2023 16:37

Gold is seen steadying on Tuesday after declining near two-week low in the previous session tracking the dollar index. The yellow metal slumped below $2000 mark yesterday as greenback rose on the back of higher than expected New York factory data that shot to 10.8 from -24.6 in March. The new orders index rose 47 points to 25.1, while the shipments index added 37 points to 23.9, substantial increases after they had declined in recent months, the New York Fed said. The dollar index a measure of the currency against six major peers climbed 101.93 following the data and is currently quoting at 101.76. Meanwhile, COMEX gold is quoting at $2012.50 an ounce, up 0.27% on the day.