Gold prices (XAU/USD) struggled to gain ground around $2,570 on Friday (11/15) after rebounding from a two-month low in the previous session. The precious metal remained under selling pressure amid a stronger US Dollar (USD) and growing uncertainty over the Federal Reserve's (Fed) move to cut interest rates. Expectations of higher inflation next year due to Donald Trump's policies have led to fewer expected rate cuts, weighing on the yellow metal as higher rates make non-yielding assets such as bullion less attractive.
However, rising tensions in the Middle East and the ongoing conflict between Ukraine and Russia could boost gold prices, a traditional safe-haven asset. Looking ahead, investors will be watching US Retail Sales for October, due on Friday. Additionally, NY Empire State Manufacturing Index and Industrial Production data will be released. Fed's Susan Collins and John Williams are due to speak on the same day.
Source: FXStreet
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