Gold (XAU/USD) attracted some dip-buying during the early European session on Tuesday (04/03) and turned positive for the second straight day, with bullish investors looking to build on the momentum beyond the $2,900 mark. Concerns about the economic impact of US President Donald Trump's trade tariffs, which could trigger a global trade war, along with geopolitical risks, weighed on investor sentiment. This turned out to be a key factor that continued to support the safe-haven demand for bullion.
Meanwhile, expectations that US President Donald Trump's trade tariffs will reignite inflation and force the Federal Reserve (Fed) to keep interest rates higher for a longer period helped revive demand for the US Dollar (USD). This might hold bullish investors from placing aggressive bets on the non-yielding Gold price and cap the upside. Investors may also choose to wait for the release of the US Nonfarm Payrolls (NFP) report on Friday before determining the next direction for commodities. (Newsmaker23)
Source: FXstreet
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