Gold ticked lower, pressured by renewed talks of interest rate hikes by the U.S. Federal Reserve following Chair Jerome Powell's congressional testimony.
Powell, in his remarks to lawmakers on Wednesday, said further rate increases are "a pretty good guess" of where the Fed is heading if the economy continues in its current direction.
"It's a little bit on the defensive, but hasn't collapsed," and could trade between $1,900 to $1,980 until the next Fed decision, Meir added. High interest rates weigh on the appeal of zero-yield bullion and gold has dipped in every trading session this week so far.
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