Gold holds steady as US dollar pauses

Published on Oct 25, 2022 11:41

Gold continues to stay steady even as dollar stays in negative in early Asia on Tuesday. However, US benchmark treasury yields continued to stay elevated above 4% that is expected to drag dollar higher and in turn weigh down bullion prices. The dollar index that measures the greenback against a basket of currencies is seen at 111.82. Meanwhile, COMEX gold is quoting at $ 1654.80 an ounce. The yellow metal awaits more clues on the trajectory of US Federal Reserve monetary tightening.