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Precious Metals Preview: COMEX gold drifts lower as dollar rebounds amid de-escalating trade concerns
13-May-2025 08:41

COMEX golf drifted to a two-week low as dollar index rebounded further above 101 mark. Optimism on US-China trade front led US treasury yields and dollar higher, weighing down the precious metal. The dollar index that measures the greenback against a basket of currencies is quoting at 101.49, its highest level in over a month. The US and China agreed to de-escalate their trade war by lowering import tariffs on each other's goods for 90 days. The de-escalation of tensions between China and the US is reducing the demand for safe haven commodity which is quoting at $3233.20 an ounce, a near two-week low.

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