GOLD: Intraday Analysis & Forecast update

Gold prices fell for a second straight session to a near one-week low on Wednesday hurt by a stronger dollar and Treasury yields following hawkish comments from a Federal Reserve policy maker that dimmed expectations of a U.S. rate cut in March.

“The markets are having doubts about interest rate cuts if the Fed can cut sooner than later, which is pressuring gold prices. With the dollar being strong and cuts taking time, it is hard for gold to hold a rally,” said Bob Haberkorn, senior market strategist at RJO Futures.

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