Gold rallies further as dollar tumbles

Published on Jan 23, 2023 12:02

Gold extends rally on Monday, hovering at its best level in nine months on Monday as dollar continues to stay subdued. COMEX gold is currently quoting at $1933 per ounce, up 0.25% on the day. A pressured dollar around seven-month lows amid concerns of a U.S. economic slowdown lifted appeal for the safe haven commodity. The Dollar Index, which tracks the greenback against a basket of six other currencies, continued to linger below 102 mark. Strong volume continued to support the uptrend in the yellow metal.