GOOD GAINS EMERGE IN GOLD

Published on May 23, 2022 13:36

COMEX Gold futures moved up further on sustained losses in the US dollar index. The Dollar continued to ease even as US Federal Reserve Chair Jerome Powell said that controlling inflation would demand rate rises in coming months. Powell said following that increase that similar 50 basis point moves were likely to come at ensuing meetings so long as economic conditions remained similar to where they are now. Risk appetite has picked up impressively in last couple of sessions and is keeping the dollar under wraps. The US Dollar index currently lingers around 102.50, down 0.47% on the day and is holding around two and half week low. COMEX Gold is also up 0.69% at $1855 per ounce.