Gold is seen under mild pressure on Thursday morning, as the commodity erased some of its gains from lifetime highs since early this week. Currently, the yellow metal is trading at $2387.30 an ounce, down 0.05% on the day. Gold is taking a pause after the relentless rally since past two months to hit its highest level ever. Easing tensions in Middle East is also reducing demand for the safe haven commodity. Meanwhile, dollar index futures eased slightly but continue to stay in close proximity to 106 mark amid hawkish tone by Fed Powell, weighing on the precious commodity. Federal Reserve Chair Powell was seen hawkish on Tuesday and warned that there is little progress on inflation.
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