Gold trading failed to continue higher gains amid the resurgence of the US dollar monarch and strong US bond yields limiting the movement of the precious metal.
In the Asian session, gold traded slightly lower at around $ 1,932 an ounce, with gold futures hovering at $ 1,936 an ounce.
The yellow metal has declined about 2.7% so far in a week and is on track for its worst week since late November.
Gold had previously risen following the fall of the US dollar and was also supported by European inflation data which showed an increase to its most recent high of 5.9% in February.
However, gold’s movement was again limited as the US dollar returned to display after investors assessed the Federal Reserve’s (Fed) decision to raise rates. This was also supported by a 10 -year higher US treasury yield of 2.18%.
Meanwhile, developments on geopolitical issues also limited gold trade, with Russian troops reportedly halting their advance in Ukrainian cities.
Meanwhile officials from the two countries met again for peace talks but said their positions remained distant as the war entered its fourth week.
