Gold prices remained under pressure on Thursday after falling to a one-month low amid expectations the Federal Reserve (Fed) will continue to raise interest rates.
In the Asian session, the yellow metal was trading steady at around $1,840 per ounce from the lows of $1,830 touched earlier in the session.
The US dollar eased slightly in early trading today after it surged higher following the release of stronger-than-expected US retail sales data in January.
Basically, gold trading is still affected by the reading of the US inflation data which is seen to support the Fed will continue to raise interest rates and keep them high.
This was coupled with encouraging retail sales data, which showed continued resilience in the US economy despite high interest rates.
As a result, the precious metal gold remains under pressure as the market's focus now shifts to the publication of US producer inflation data in the upcoming New York session.
