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Gold supported in Asia

Published on Jan 02, 2023 11:52

Gold stayed supported in early Asia on Monday tracking weakness in the dollar that lingered near a seven month low. The dollar index that measures the greenback against a basket of currencies is holding at 103.27, down 0.3% on the day. The greenback now awaits Fed minutes and NFP due this week for further cues. Meanwhile, the yellow metal is hovering near a six month high following a sharp decline to a two and half year low around November as dollar surged on the back of rising interest rates across the world. COMEX gold is currently quoting higher by 0.22% at $1830.10 an ounce.

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