Gold (XAU/USD) price extended its goodish intraday recovery from one-month lows and climbed to a fresh intraday high, around $2,622 region during the early European session on Thursday.
The global risk sentiment soured in reaction to the Federal Reserve's (Fed) hawkish interest rate cut on Wednesday.
This, along with geopolitical risks and trade war fears, turned out to be the key factors driving safe-haven inflows towards the precious metal.
Meanwhile, the US Dollar (USD) was seen consolidating the previous day's post-FOMC gains to a two-year high and did little to provide any impetus to Gold prices.
That said, the Fed's signal that it will slow down the pace of interest rate cuts continued to lift the US Treasury bond yields and acted as a tailwind for the greenback.
This, in turn, might cap any further gains for the non-yielding yellow metal and raise some caution among bullish traders.
Source: FXStreet
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