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Gold gaining some momentum

Published on Oct 03, 2022 12:12

Gold is gaining some momentum in early Asian trades on Monday tracking weakness in the dollar index. The dollar index that measures the greenback against a basket of currencies is seen lower at 112.03 tracking lower benchmark treasury yields. The yellow metal is seen hovering near a two week high amid safe haven demand on growing fears of recession combined with recovery following a sharp decline in September. COMEX gold is attempting rebound near $1700 mark, hitting the day`s high at $1696.70 but eased thereafter and is currently quoting at $1672.20 an ounce.

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