Gold sees flat moves in Asia

Published on Nov 01, 2022 12:32

Gold is holding near the flat line ahead of closely watched Federal Reserve meeting where the central bank is widely expected to continue with its rate hike stance. However, sharp pull back in benchmark treasury yields and dollar is seen giving some respite to the yellow metal. 10-year US treasury yields are down more than 1% while the dollar index that measures the greenback against a basket of currencies is currently lower by 0.20% at 111.20 but off its recent one-month low levels, adding pressure on the bullion. COMEX gold is quoting almost flat at $1640.90 an ounce.