Gold price (XAU/USD) maintains its offered tone through the early European session on Friday and is currently trading around the $2,864-2,863 region, just above a two-week low.
The US Dollar (USD) is prolonging this week's recovery move from over a two-month low amid bets that the Federal Reserve (Fed) would stick to its hawkish stance amid still-elevated inflation. This, in turn, is seen as a key factor exerting pressure on the commodity for the second successive day.
The down leg could further be attributed to repositioning trade ahead of the US Personal Consumption Expenditure (PCE) Price Index. The crucial US inflation data might influence the Fed's interest rate outlook and determine the near-term trajectory for the Gold price.
In the meantime, the uncertainty around US President Donald Trump's tariff plans, the risk-off mood, and a fresh leg down in the US Treasury bond yields could offer some support to the safe-haven precious metal.
Source: FXStreet
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