Gold steadied around $1,870 an ounce on Tuesday
Gold steadied around $1,870 an ounce on Tuesday, hovering near its strongest levels in eight months amid a general dollar weakness, as weaker-than-expected US data tempered expectations that the Federal Reserve will continue to raise interest rates aggressively. Meanwhile, San Francisco Fed Bank President Mary Daly said she expects the central bank to raise rates to somewhere over 5%, while Atlanta Fed Bank President Raphael Bostic noted that policymakers should hike above 5% by early in the second quarter and hold them there for a long time. Investors now look ahead to the US inflation report on Thursday for further clues about the Fed's next move, as well as Fed Chair Jerome Powell's speech later on Tuesday.p>