Gold under pressure in Asia

Published on Feb 15, 2023 11:54

Gold prices are under pressure in early Asia on Wednesday, tracking rebound in dollar index after data showed that US inflation levels continue to stay at levels that Fed could continue with rate hikes. The annual inflation rate in the US slowed only slightly to 6.4% in January from 6.5% in December, suggesting that getting inflation under control will take more time than expected. The dollar index returned above 103 mark while COMEX gold is currently down 0.27% at $1860.40 an ounce.