Gold remained on a 'bearish' track on Wednesday trading influenced by the United States (US) inflation report for October which met market expectations of an increase and the increase in US Treasury yields which boosted the value of the USD.
At 9.15am, the price of gold was at $2,567.88 which is down 0.18% since it opened in early trading on Thursday in the Asian session.
Bullion extended its losses for a fourth straight day after the US Bureau of Labor Statistics (BLS) revealed that core inflation movements in October moved in line with Wall Street expectations.
Meanwhile, the US dollar continues to record gains even though the market is placing high hopes for the Federal Reserve (Fed) to implement a 25 basis point rate cut at the December meeting.
DXY hit a high of 106.52 points past the April figure and it gained around 0.50%.
US Treasury bond yields continued to rise with the benchmark 10-year note yielding 4.453%, two and a half basis points above its opening yield.
Additionally, market participants see Trump's victory as a deterrent to the Fed from easing policy if inflation picks up due to low taxes and new tariffs.
In trade heading into the end of the week, markets are eyeing Fed Chairman Jerome Powell's speech, the US Producer Price Index (PPI) and employment data due out on Thursday. For Friday, Retail Sales will update the status of American consumers.
