Gold prices are trading in today’s Asian session below 2330 levels.
Gold prices declined in Asian trade on Thursday, primarily due to the strengthening of the dollar and rising U.S. Treasury yields. Traders remained cautious ahead of key economic data that could influence interest rates.
The dollar reached a two-week high as concerns about prolonged high U.S. interest rates led traders to favour the greenback. Benchmark U.S. Treasury yields also increased this week.
This shift caused some investors to move away from gold, pushing the metal further from the record highs reached last week and erasing most of the gains made earlier this week.
