Persistent strength in US dollar hammering Gold

Published on Oct 11, 2022 11:40

Persistent strength in the US dollar overseas is seen hammering gold prices that plummeted below $1700 mark. Hawkish signals from the Federal Reserve on continuing with aggressive rate hike stance is keeping treasury yields elevated near 4% and pushing dollar index higher. The dollar index that measures the greenback against a basket of currencies is seen hovering near recent peaks at 113. COMEX Gold is down 0.15% at $1672.60 an ounce.