Gold prices eased in early Asian hours on Monday, as the market expected more interest rates hikes in the next year by the U.S. Federal Reserve.

* Spot gold was down 0.1% at $1,791.25 per ounce as of 0010 GMT. U.S. gold futures were little changed at $1,800.70.

* Fed policymakers may need to lift U.S. borrowing costs above the peak 5.1% they penciled in just this week, and keep them there perhaps into 2024 to squeeze high inflation out of the economy, three of them signaled on Friday.

* Higher interest rates tend to weigh on the bullion’s appeal, as it increases the opportunity cost of holding the non-yielding asset.

* The dollar index was up 0.1%. A stronger greenback makes gold more expensive for overseas buyers.

* Indian gold dealers offered bigger discounts to attract consumers who delayed purchases due to a spike in prices last week, while China‘s reopening plans have kept premiums firm in the world’s top bullion buyer.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.4% to 910.40 tonnes on Friday.

* Spot silver fell 0.3% to $23.14, platinum rose 0.3% to $994.53 and palladium was up 1.1% to $1,732.59.