Gold price fluctuates amid dollar and market uncertainty.

Gold prices rebounded in early US trading on Tuesday, supported by bargain hunting and short covering in the futures market after hitting a nine-week low overnight. The weaker US dollar index and a dip in US Treasury yields also helped the price recovery. The World Gold Council reported that 24% of central banks intend to increase their gold holdings in 2023 due to higher inflation, geopolitical turmoil and interest rate worries. The silver bears have the overall near-term technical advantage, while gold futures bulls have the overall near-term technical advantage but have faded recently.