Gold eases on dollar strength

Published on Jun 01, 2022 17:34

Gold futures slipped today amid firm US dollar and profit selling pressure. A modest recovery in Crypto space also weighed on the metal. The COMEX Gold futures are trading at $1832 per ounce, down 0.85%. The prices are lingering around two week low. A mild uptick was seen in European stocks. European indices edged up with decent gains in German and French stocks. Meanwhile, the US dollar index is hovering around 102 levels on Wednesday, tracking higher benchmark treasury yields. The dollar index, which measures the greenback against a basket of currencies is quoting at 101.98, after spiking above 102 mark during the day.