Gold lingers around $1630 per ounce

Published on Sep 28, 2022 12:19

Gold came under renewed pressure in early Asia on Wednesday tracking an overnight bounce in the US dollar overseas. The greenback strengthened on upbeat consumer confidence and a lower-than-expected decline in durable goods demand. The dollar index that measures the greenback against a basket of currencies was up 0.44% at 114.54, fresh two decade peaks while benchmark US treasury yields spike to 4% early today. Meanwhile the yellow metal was lingering at $1632.15 an ounce, down 0.25%.