Gold prices have continued to attract sellers for the second consecutive day, as a stronger US dollar dominates the forex landscape. The sliding US bond yields have failed to support the precious metal, amid a global risk-off mood that has not favored gold. Traders are now eagerly awaiting the US Personal Consumption Expenditures (PCE) Price Index for further market impetus, with many hoping for clearer indications of economic trends.
Despite strong global interest, the current market environment has seen the USD gaining broad strength, which has contributed significantly to the diminishing allure of gold. Furthermore, inflationary pressures appear to have eased in February, particularly in France, where a notable reduction in the regulated electricity price has taken place. This development has added another layer of complexity to the decision-making process for those invested in precious metals.
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