Gold price (XAU/USD) oscillates in a narrow band near the top end of its weekly range during the Asian session on Thursday and remains close to a multi-month peak touched last week.
A fresh leg down in the US Treasury bond yields is seen as a key factor acting as a tailwind for the commodity. Apart from this, concerns about the potential economic fallout from US President Donald Trump's tariff plans further benefit the safe-haven precious metal.
Meanwhile, Trump's demand for lower interest rates and signs of abating inflation in the US support the prospect for further policy easing by the Federal Reserve (Fed).
This, in turn, suggests that the path of least resistance for the Gold price remains to the upside. That said, the Fed's hawkish pause on Wednesday continues to underpin the US Dollar (USD), which, along with a positive risk tone, keeps a lid on the non-yielding yellow metal.
Source: FXStreet
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