Gold prices were flat on Thursday as the dollar advanced to an over two-month high and sapped demand for the greenback-priced metal.
Bullion has been attempting to recover from its previous sell-off, but a stronger dollar and higher U.S. Treasury yields continue to keep the upside in check, which seems to override safe-haven flows around the U.S. debt ceiling situation, said Yeap Jun Rong, a market analyst at IG.and said she will update Congress shortly about government finances.
Negotiators for Democratic President Joe Biden and top congressional Republican Kevin McCarthy held what both sides called on Wednesday to try to reach a deal to raise the United States' $31.4 trillion debt ceiling and avoid a catastrophic default.
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