Gold slippery as dollar index roars above 105 mark

Published on Mar 09, 2023 12:17

Gold prices are seen lingering near its lowest level this year amid continued concerns of rising interest rates. Dollar is staying at elevated levels above 105 mark on a hawkish Fed, adding further pressure on the yellow metal. Chair Jerome Powell said the Federal Reserve would consider raising interest rates by a larger half percentage point this month and was likely to lift rates higher than previously expected this year to cool an economy that has shown surprising strength. COMEX gold is quoting at $1816.60 an ounce, down 0.11% on the day.