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Gold hovers just above $1800 per ounce

Published on Jul 05, 2022 10:55

Gold came off overnight lows but stay near $1810 mark amid slight improvement in risk sentiment. Asian markets rose along with U.S. equity futures. European stocks also ended broadly higher on Monday while US markets were closed for Independence Day. However, rebound in US treasury yields, approaching 3% and rebound in dollar is likely to dim appeal for the yellow metal. Meanwhile, the upcoming Federal Open Market Committee (FOMC) minutes on Wednesday, will provide further cues for the commodity. The U.S. dollar index is trading flat just below 105 levels, not far below last month`s two-decade high of 105.79. COMEX Gold is currently quoting at $1810.85 an ounce, higher by 0.53%.

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