NEW DELHI: Gold prices remained under pressure on Wednesday after witnessing their sharpest decline in over a week, as investors weighed the recent strength of the US dollar against a broader risk-off sentiment across global markets.
Spot gold hovered around $3, 940 per ounce after sliding nearly 2 per cent in the previous session, following five straight days of gains in the dollar index.
Global equities also extended their decline, marking their steepest fall in almost a month amid concerns about stretched valuations.