Gold tracks modest weakness in dollar

Published on Aug 25, 2022 12:45

Gold moved higher during Asian trades on Thursday, tracking weakness in the US dollar that has come under pressure ahead of the crucial Fed Chair Jerome Powell`s speech at the central bank`s economic symposium at Jackson Hole, Wyoming on Friday. The dollar index that measures the greenback against a basket of currencies is down 0.23% at 108.37. Gold futures that were trading below $1760 levels during the last couple of days managed to recover back and are currently quoting up by nearly half a percent at $1769 an ounce.