Gold prices end in green despite facing worst month since June 2021

Gold prices ended in the green today, Feb. 28, following the release of some US economic data and as investors continued to assess the trajectory of monetary policy.

US consumer confidence retreated in February for the second straight month, as uncertainty for where employment and inflation rates are headed loom, as per data issued by the Conference Board today.

Likewise, the precious metal suffered a severe setback in February, with expectations escalating about further calibrated monetary policy action by the Federal Reserve to curb inflation.

In terms of trading, gold for April delivery nudged up 0.70%, or $11.80, to close at $1,836.70 an ounce.

In total, prices for the most-active gold futures lost about 5.50% in February, facing the biggest monthly decline since June 2021.

Elsewhere, the US dollar index, which gauges the greenback's strength against a basket of six currencies, eked out a slim gain of 0.07% to settle at 104.74 points at 9:54 pm Makkah time.