Gold nears two week high

Published on Oct 27, 2022 12:02

Gold is seen holding near higher levels on Thursday following a sharp comeback of nearly 1% in the previous session. The yellow metal climbed to a two week high above $1665 mark as the greenback weakened to a one-month low on expectations that a slowdown in U.S. economic growth will push the Fed into softening its pace of interest rate hikes this year. The dollar index dropped below 110 mark while benchmark US treasury yields also came under pressure. COMEX Gold futures are currently seen quoting at $1666.75 an ounce.