Gold's price (XAU/USD) extends this week's bullish momentum and hits a fresh all-time high at above $2,945 during the European trading session on Wednesday. The up-move comes after United States (US) President Donald Trump's harsh words on Ukraine overnight, just hours after first talks between the US and Russia officials raised concerns among traders if a peace deal is even in the cards. Meanwhile, President Trump confirmed again that 25% tariffs on automobile imports are coming, extending to pharmaceutical and semiconductor imports in addition.
Meanwhile, the Federal Reserve (Fed) is set to release the Federal Open Market Committee (FOMC) Minutes for the January meeting. This could throw a spanner in the works for Gold, as several Fed officials have said in recent weeks that rates are reasonable where they are while some inflationary forces are enough for renewed concerns.
Source: FXStreet
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