Gold prices drifted lower on Tuesday as the dollar climbed higher against most of its major peers and bond yields moved up amid rising prospects of stricter policy measures by the Federal Reserve and the European Central Bank to combat soaring inflation.
The dollar index climbed to 102.17 in early New York session, but pared most of its gains subsequently and was last seen hovering around 101.75, up 0.08% from the previous close.
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