U.S. retail sales data released on Tuesday showed consumer spending remained strong in the country, potentially indicating more inflationary pressures in the coming months.
Investors mostly favor the dollar and Treasuries as a safer haven than gold, as risk appetite worsens amid worsening economic conditions across most globally, especially in China.
The greenback steadied near 1-and-a-half month highs on Wednesday, after recovering sharply from 2023 lows over the past month