Commodities
Gold Prices Stagnant Amid Rising Interest Rates
Gold prices remained largely steady in global markets on Wednesday, but expectations of higher interest rates continued to weigh on the precious metal.
The US dollar's strength is also putting additional pressure on gold prices, making it more expensive for buyers holding other currencies.
Spot gold was trading near $4,180.30 per ounce as of 0435 GMT on Wednesday, while US gold futures rose 0.8% to $4,212.70 per ounce.
The precious metals complex is on track for a monthly decline, with gold's expected loss nearing 6% and other metals such as silver, platinum, and palladium also falling.