Gold tracks US treasuries

Published on Sep 29, 2022 12:45

Gold fell back slightly in early Asia on Thursday following a decent recovery in the previous session amid pull back in benchmark treasury yields and dollar. An easing dollar and Treasury yields came as a major boost to metal markets on Wednesday, with the greenback retreating sharply from a 20-year high, while 10-year U.S. Treasury yields fell from a 12-year peak. However, a mild rebound in dollar in early trades today is seen diminishing appeal for the yellow metal. COMEX gold is currently quoting lower by half a percent at $1661.60 an ounce.