Gold trading continued to decline lower earlier in the week to a two -week low touched in the previous session, weakened by the strengthening US dollar and continued US bond yields.
In the Asian session, the yellow metal traded lower at $ 1,925 an ounce, with gold futures dismal at $ 1,926 an ounce.
The king of the US dollar remained strong at its most recent two -year high it reached on Friday, while the 10 -year US treasury yield was slightly down from a high of 2.86%.
Gold has fallen sharply since the Federal Reserve (Fed) signaled to implement more aggressive interest rate hikes and also weaken other major currencies.
However, uncertainty in the ongoing Ukraine -Russia conflict helped gold from declining lower.
In the latest development Ukraine will ask U.S. Secretary of State Anthony Blinken and Defense Secretary Lloyd Austin to get more powerful weapons on Sunday as Russia’s attack on it enters its third month,
Meanwhile, the US stock market remained vulnerable amid this uncertainty and the hawkish Fed, with investors ’focus directed to the publication of a corporate earnings report this week.
