Gold (XAU/USD) prices struggled to capitalize on their modest intraday gains on Tuesday and remained below multi-day highs set the previous day amid mixed fundamental cues.
Geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East, along with trade war concerns, continued to lend support to the safe-haven precious metal.
However, the Federal Reserve's (Fed) hawkish policy shift kept a lid on the commodity.
The US central bank last week signaled it would slow the pace of interest rate cuts in 2025. The outlook remains supportive of a pickup in the US Treasury bond yields, which helped the US Dollar (USD) hold steady near two-year tops and kept a lid on the non-yielding Gold prices.
Hence, it would be prudent to wait for some follow-through buying before positioning for an extension of the recovery move from one-month lows touched last week amid thin trading volumes.
Source: FXStreet
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