Gold slippery amid firm dollar

Published on Feb 21, 2023 09:27

Gold lacked luster on Tuesday as dollar regained some footing although it stayed below 104 mark touched last week. The yellow metal continues to remain cautious ahead of Fed minutes this week that could provide further cues on Fed rate hikes going forward. Last week data showed increase in producer prices and falling initial jobless claims that gives the Fed enough impetus to keep raising interest rates. The dollar index that measures the greenback against a basket of currencies was at 103.97 while COMEX gold was quoting at $1851.80 an ounce, up marginally on the day.