"Gold Prices Tied to Federal Reserve's Outlook"

Gold remains above $2,000 per ounce despite a 2% drop on Friday, as investors assess the U.S. Federal Reserve's interest rate hike trajectory. The CME FedWatch tool shows markets are pricing in an 86% chance of a 25 basis point hike in May. Rising interest rates reduce the appeal of non-yielding bullion. The dollar index was 0.1% higher, making bullion more expensive for overseas buyers, and benchmark Treasury yields were at their highest in two weeks.