Gold Futures Edge Lower During Asian Trading Session
Gold futures traded lower during Wednesday’s Asian session, extending recent losses as investors monitored the strength of the US Dollar and broader market sentiment.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were trading at $4,473.55 per troy ounce at the time of writing, down 0.26% on the day.
The precious metal earlier touched an intraday low during the session, with analysts closely watching key technical levels. Gold is expected to find immediate support near $4,455.51, while resistance is seen around $4,725.80.
Meanwhile, the US Dollar Index Futures, which tracks the performance of the greenback against a basket of six major currencies, gained 0.03% to trade at $99.29, adding pressure to gold prices.
Elsewhere on Comex, silver futures for July delivery rose 0.40% to $74.28 per troy ounce, while copper futures for July delivery slipped 0.16% to $6.18 per pound.