Gold (XAU/USD) seesaws around a three-week low, near $1,790 at the latest, following a four-day downtrend that dragged the quote below the 200-DMA. That said, firmer yields and hopes of a Fed rate hike weigh on the metal prices despite the latest inaction during early Wednesday’s Asian session. US President Joe Biden’s nominations for the Federal Reserve’s (Fed) Chairman and Vice-Chair’s post boosted the market’s morale for the rate hike. The same helped the US 10-year Treasury yields and the US Dollar Index (DXY) to refresh the multi-day top. Also favoring the bond yields and the greenback was the US inflation ... (full story)