The U.S. dollar held close to a two-decade high touched last month, pressuring gold by making it expensive for those holding other currencies. [USD/] "Gold bulls are stuck in a quagmire of aggressive Fed policy actions, as the prospects of higher U.S. rates erode support for the precious metal," said Han Tan, chief market analyst at Exinity. If policymakers are forced to turn more aggressive in the face of unwavering inflation, that could spell another leg down for gold prices," Tan added.