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Precious Metals Preview: Gold supported by dollar weakness
11-Mar-2025 08:47

Gold edged up in early Asia on Tuesday after registering a pullback yesterday, as Bitcoin edged up and sentiments towards Crytpo assets got a boost following latest push in US crypto policy framework. Nevertheless, weakness in dollar overseas is keeping the yellow metal supported. President Donald Trump signed an Executive Order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, with the aim of positioning the United States as a leader among nations in government digital asset strategy. The Order creates a Strategic Bitcoin Reserve that will keep bitcoin as a reserve asset. Bitcoin value rose 1.60% following this, keeping the digital currency above 83300 mark. COMEX gold futures are trading at $2902.10 an ounce, up 0.09% on the day.

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