Gold under continued stress

Published on Feb 27, 2023 11:42

Gold prices continued to stay under pressure on Monday, tracking strength in dollar overseas amid concerns that Fed would continue to stay hawkish over high US inflation levels. Higher interest rates typically weigh down bullion prices. The dollar hovered around a seven-week high against a basket of currencies above 105 mark, while 10-year Treasury yields were eyeing a move past the 4% level. COMEX gold futures are quoting almost flat at $1817.10 an ounce.