Gold Stays Weak, Dollar Index Hit Around Four Month High

Published on Mar 26, 2021 13:24

COMEX Gold futures mostly eased on firm US economic cues and surging US dollar. Gold also eyed outlook for monetary policy following comments from Federal Reserve Chair Jerome Powell. In an interview on National Public Radio`s "Morning Edition," Powell noted the Fed plans to gradually roll back its asset purchases as the economy makes substantial progress towards the Fed`s goals of maximum employment and price stability. The US dollar index moved up to a fresh four month high near 93 mark following good US economic data and weighed on the Gold futures. COMEX Gold fell around 0.14% to trade just under $1725 per ounce.