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Gold Futures Edge Lower During Asian Trading Session
Gold futures traded lower during Asian market hours on Tuesday as investors monitored the movement of the US dollar and broader commodity markets.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were trading at $4,565.95 per troy ounce at the time of writing, down 0.21%.
Earlier in the session, gold prices touched an intraday low before recovering slightly. Analysts expect gold to find immediate support near $4,521.80, while resistance is seen around $4,615.50.
The US Dollar Index Futures, which measures the performance of the greenback against a basket of six major currencies, rose 0.12% to 99.04, adding pressure to precious metal prices.
Meanwhile, other metals on Comex also moved lower. Silver futures for July delivery declined 1.14% to $77.07 per troy ounce, while copper futures for July delivery dropped 0.97% to $6.41 per pound.