Gold price (XAU/USD) extends its sideways consolidative price move heading into the European session and remains close to the all-time peak touched earlier this Friday.
Investors remain concerned about the potential economic fallout from US President Donald Trump's tariff plans. This, along with geopolitical tensions, might continue to underpin the safe-haven bullion.
Moreover, expectations that Trump's protectionist policies would boost inflation further benefit the precious metal's hedge against rising price pressures.
Meanwhile, the Federal Reserve's (Fed) first pause since the start of its easing cycle in September and a relatively hawkish stance triggers a modest bounce in the US Treasury bond yields.
This assists the US Dollar (USD) in preserving its weekly recovery gains from over a one-month low and keeps a lid on the non-yielding Gold price.
Traders also seem reluctant and opt to wait for the release of the US Personal Consumption Expenditure (PCE) Price Index before placing fresh directional bets around the XAU/USD.
Source: FXStreet
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