Gold remained weak around two-and-a-half-year lows amid expectations of further policy tightening by the Federal Reserve (Fed) to tackle inflation.
At the time of writing, spot gold was trading at $1,630 per ounce, while gold futures were dismal at $1,636 per ounce.
Market concerns over recession and aggressive central bank actions continue to put downward pressure on the price of the yellow metal.
Investors continue to cling to optimism for a hawkish Fed to fight inflation by continuing to raise interest rates at its next meeting.
Chairman Jerome Powell's speech today will be the focus of investors hoping for fresh guidance from the central bank chief.
In the meantime, the US dollar remained strong at a 20-year high against major currencies despite a slight decline with the 10-year US bond yield remaining stable around the 12-year high.
