Gold eases in Asia

Published on Mar 01, 2023 11:36

Gold prices eased in early Asia on Wednesday following a brief recovery in the last two sessions as dollar staying near recent peaks continues to add pressure on the commodity. The dollar index that measures the greenback against a basket of currencies stayed near two month highs at 104.87. Hawkish Federal Reserve on interest rates on the back of sticky inflation has kept the yellow metal under pressure for a while now. COMEX gold is quoting at $1836.30 an ounce, down marginally on the day.