Gold eases around half a percent

Published on Oct 18, 2022 12:23

Gold is down nearly half a percent on Tuesday as dollar is seen recovering in early trades. The yellow metal pulled back below $1660 mark as dollar index picked up bids near 112 levels. Also, the 10-year US Treasury yields is oscillating below the critical figure of 4%. Gold futures are currently quoting down 0.43% at $1656.80 an ounce. The New York Fed said its general business conditions index slid to a negative 9.1 in October from a negative 1.5 in September, with a negative reading indicating a contraction in regional manufacturing activity.