Gold Prices Remain Steady Amid Interest Rate Uncertainty

Gold prices remained steady in early Asian trading as investors await the trajectory of U.S. interest rates.

The stability in gold came after U.S. Treasury yields surged strongly in the previous session, following the release of economic data stronger than expected.

The preliminary 'S&P Global' Composite Purchasing Managers Index in the United States showed business activity rising to its highest level since July 2021, coinciding with an increase in the prices charged by companies for inputs to their highest level in nearly four years.

U.S. Treasury yields surged strongly in the previous session, following the release of economic data stronger than expected.