Gold Prices Recover Slightly Amid Dollar Strength

Gold prices have recovered slightly after falling around 2% this week due to renewed pressure from the US dollar and Treasury yields.

The Federal Reserve's hawkish comments indicating additional rate increases may still be required to bring inflation back towards the 2% target have weighed on demand for non-yielding assets like gold.

As a result, gold is currently consolidating near $4,280 after failing to sustain momentum above the $4,295 resistance zone.