COMEX Gold races up 1%

Published on May 29, 2023 12:06

Gold is up almost 1% on Monday as dollar pulled back in early Asia after US lawmakers agreed over terms to raise the federal government`s $31.4 trillion debt ceiling during the weekend. The dollar index eased from recent highs but stayed above 104 mark, that is expected to cap sharp gains in the yellow metal. Besides rising equities amid improving risk sentiment is also expected to keep the precious metal pressured. COMEX gold futures are currently seen quoting at $1962.90, up 0.96% on the day, rebounding from Friday`s two and half month low.