Gold (XAU/USD) has given away earlier gains and is trading lower for the second consecutive day during Friday's European session. The US Dollar (USD) maintains its bullish tone, supported by rising US Treasury yields, which keeps the precious metal under pressure.
Recent US data is showing a resilient US economy with inflation picking up. Donald Trump's high tariffs for imports and restricted immigration are expected to lift consumer prices, forcing the Federal Reserve (Fed) to approach cautiously with monetary easing next year.
Most of the major central banks, in contrast, are expected to cut rates aggressively, as shown by the European Central Bank (ECB), the Bank of Canada (BoC), and the Swiss National Bank (SNB) this week. This provides a competitive advantage for the Dollar, which has rallied more than 1% so far this week, to the detriment of Gold prices.(Cay) Newsmaker23
Source: Fxstreet
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