Gold price (XAU/USD) attracts some sellers following an Asian session uptick to the $2,745 area and turns lower for the second straight day on Tuesday amid a goodish pickup in the US Dollar (USD) demand.
US President Donald Trump's trade tariff threats revive inflationary concerns and trigger a modest recovery in the US Treasury bond yields. This, in turn, assists the USD in staging a solid bounce from its lowest level since December 18 touched on Monday and undermines the USD-denominated bullion.
However, bets that the Federal Reserve (Fed) would lower borrowing costs twice by the end of this year, bolstered by Trump's remarks that he will demand interest rates drop immediately, might cap the US bond yields and the USD.
Moreover, worries about the potential economic fallout from Trump's trade policies could act as a tailwind for the safe-haven Gold price. This, in turn, warrants some caution before positioning for any further losses as the focus shifts to a two-day FOMC meeting starting this Tuesday.
Source: FXStreet
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