The strengthening of the US dollar and high US Treasury yields put pressure on gold

Gold prices hover around $4,300 per ounce, as the market anticipates that the Federal Reserve may raise interest rates further, putting pressure on gold.

New York futures gold is flat at $4,316.3, suppressed by a stronger dollar and U.S. Treasury yields rising to multi-year highs. Federal Reserve officials maintain a hawkish stance, with Governor Barr stating that further tightening of policy may be necessary.