Gold slippery amid firm dollar

Published on May 23, 2023 14:22

Gold extended decline in early Asia trades on Tuesday as dollar stayed firm with all focus on talks over US debt ceiling and prospects of further interest rate hikes. The upcoming Fed minutes this week will be watched or further cues as higher interest rates wanes appeal for the yellow metal. Recent comment from Federal Reserve policymakers see more interest rate hikes by the central bank in order to fight against stubborn inflation in the United States. Gold futures are trading below $1970 mark and are currently seen quoting at $1964.40 an ounce, down 0.65% on the day.