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The US dollar continued to move higher, with gold falling to a more than one-month low overnight
Sina Financial News As traders cut interest rate cut bets, the dollar continued to rise, gold fell to a more than one-month low, and the swap market showed that the probability of the Fed cutting interest rates in March was only about 50%, pushing gold prices down 1.2% at one point, hitting the lowest intraday level since December 12 last yearEuropean Central Bank President Christine Lagarde said the Central Bank may cut interest rates in the summer, but said the market's aggressive rate cut bets will not help the Central Bank curb inflation; European Central Bank Governing Council Klaas Knot also said that market bets on easing monetary policy have dropped the likelihood of rate cuts. Spot gold fell 1.1% to $2,005.94 an ounce and silver Spot fell 1.6% to $22.5585 an ounce.