Gold marginally lower in Asia

Published on Aug 03, 2022 12:18

Gold is marginally lower on Wednesday as dollar is lingering near firm levels registered in the previous session tracking US treasury yields. The benchmark yields were higher at 2.77% and dollar up by 1% yesterday following hawkish remarks from Fed officials. Chicago Fed President Charles Evans flagged another major rate hike, but expressed hope that such a move could be avoided. Meanwhile, San Francisco Fed President Mary Daly said the Fed has a �long way to go� before inflation can be tamed, which likely points to more interest rate hikes. COMEX Gold is quoting down 0.34% at $1783.65 an ounce.