Gold (XAU/USD) prices maintained their positive bias through the early European session on Tuesday, albeit lacked bullish conviction and remained below one-month highs touched the previous day.
Reports that US President-elect Donald Trump's top economic adviser is considering a gradual tariff hike to prevent a sudden spike in inflation triggered a modest pullback in the US Treasury bond yields.
This, in turn, kept the US Dollar (USD) pressured below two-year highs touched on Monday and provided some support to the commodity.
Meanwhile, easing concerns about disruptive trade tariffs under Trump 2.0 boosted investor confidence.
Furthermore, upbeat US Nonfarm Payrolls (NFP) report released on Friday strengthened bets for a slower pace of interest rate cuts this year.
This acted as a tailwind for the US Treasury yields and the USD, which in turn, kept a lid on any meaningful appreciating move for the non-yielding Gold prices. Traders now look forward to the release of the US Producer Price Index (PPI) for near-term impetus later in the North-American session.
Source: FXStreet
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