PHYS - Gold slips to three-month low as dollar surges; inflation data on watch

Gold futures closed at the lowest level in three months as the dollar continued to strengthen Tuesday, with Comex June gold (XAUUSD:CUR) settling -1% at $1,841/oz for the lowest settlement for the most-active contract since February 10, MarketWatch reports. Meanwhile, July silver (XAGUSD:CUR) ended -1.8% at $21.424/oz, marking the lowest closing value for the most-active contract since July 2020. ETFs: (NYSEARCA:GLD), (GDX), (IAU), (NUGT), (PHYS) Gold likely faces continued "headwinds in the form of an appreciating dollar, rising Treasury yields and Fed rate hike bets," according to Lukman Otunuga, senior research analyst at FXTM, as the dollar index added another 0.2%, holding near a 20-year high reached on Monday "Dollar strength is hurting gold," Oanda's Edward Moya said. "Even though we see a pause in the bond market selloff, it seems clear that investors will not immediately jump back into gold." Inflation data could affect the course of gold prices,

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Gold slips to three-month low as dollar surges; inflation data on watch