Gold (XAU/USD) prices struggled to capitalize on their decent intraday uptick from one-and-a-half-week lows touched early Friday (6/12), albeit managed to hold modest gains through the first half of the European session. The US Treasury bond yields remained depressed amid bets that the Federal Reserve (Fed) will lower borrowing costs in December. This, in turn, pushed the US Dollar (USD) near multi-week lows and acted as a tailwind for the non-yielding yellow metal.
Additionally, a slight deterioration in the global risk sentiment, geopolitical tensions, and trade war fears turned out to be other factors supporting Gold prices as a safe-haven. However, expectations of a less dovish Fed, supported by hopes that US President-elect Donald Trump's policies will boost inflation, capped any further upside for XAU/USD. Traders also seemed reluctant to place any aggressive bets ahead of the release of the US Nonfarm Payrolls (NFP) report.
Source: FXStreet
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