HomeNewsNewsGold claws back from 2-1/2-month lows as dollar ebbs

Gold claws back from 2-1/2-month lows as dollar ebbs

A view of Krastsvetmet Precious Metals production facility in Krasnoyarsk, Russia on March 10, 2022. 

Alexander Manzyuk | Anadolu Agency | Getty Images

Gold prices firmed on Tuesday after falling to their lowest level since mid-February in the previous session, as a slight pullback in the U.S. dollar lifted demand for greenback-priced bullion.

Spot gold was up 0.2% at $1,866.02 per ounce, as of 0055 GMT. U.S. gold futures were up 0.1% to $1,865.10.

The dollar weakened, making gold more attractive for overseas buyers.

The U.S. benchmark 10-year Treasury yields on Monday hit 3% for the first time since December 2018, a psychological milestone that could have major implications for other financial markets.

The Federal Reserve’s Federal Open Market Committee is expected to begin its meeting on interest rates later in the day and announce its decision on Wednesday.

Fed policymakers look set to deliver a series of aggressive interest rate…

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