Gold (XAU/USD) prices maintained their negative bias through the first half of the European session on Friday, albeit lacked any follow-through selling and remained near one-month highs touched the previous day.
The US Dollar (USD) regained some positive traction and for now, seems to have snapped three consecutive days of losing streak amid growing acceptance that the Federal Reserve (Fed) will pause its interest rate-cutting cycle later this month. This, along with a generally positive tone around equity markets, turned out to be the key factors undermining the precious metal.
Meanwhile, expectations that softer inflation in the US will allow the Federal Reserve (Fed) to cut interest rates further this year should keep a lid on any further USD appreciation and lend some support to the non-yielding Gold prices.
Furthermore, uncertainty surrounding US President-elect Donald Trump's trade policies and tariff plans should help limit losses for the safe-haven bullion. That said, XAU/USD remains on track to post gains for the third straight day as traders now look forward to the US macro data for a fresh impetus.
Source: FXStreet
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