On the flip side, gold continued to find some support from robust physical demand.
Meanwhile, the US Dollar Index gained 0.3%, as prospects of higher-for-longer rates have sent investors scurrying to the safety of the US currency instead.
“As long as the narrative remains higher-for-longer, it’s going to continue pressuring precious metals,” said Ryan McKay, commodity strategist at TD Securities, adding the break below the $1,900 mark also triggered technical selling. “If the data continues to come in stronger, that will be another thing that continues to weigh on gold,” McKay added.
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