Gold Wavers Around $1785 Per Ounce In Asia

Published on Apr 23, 2021 12:35

Gold pulled back further from around $1800 per ounce yesterday as buying was limited amid a good recovery in the US dollar. The yellow metal trades flat around $1785 per ounce right now. The US dollar index broke above the 91 mark and saw good traction after bouncing from a seven week low. Gold lost some charm as the US economy appeared to be recovering steadily, taking some sheen off the metal as a safe haven. Applications for US state unemployment insurance tanked to a pandemic low of 547,000 in the week ended April 17, Labor Department data showed Thursday. The job market is strengthening as employers look to fill positions that were left empty by restrictions that have now been eased.