Gold (XAU/USD) prices struggled to capitalize on the previous day's up-move and attracted some intraday sellers during the Asian session on Wednesday (3/26). The US Dollar (USD) regained some positive traction and moved back closer to near three-week highs touched on Tuesday. This, along with the general positive sentiment around equity markets, acted as a headwind for the safe-haven precious metal.
However, uncertainty over US President Donald Trump's so-called reciprocal tariff plan for next week helped Gold prices hold above the psychological $3,000 mark. Additionally, bets that the Federal Reserve (Fed) will soon resume its interest rate-cutting cycle, amid fears of a US recession, might hold traders from placing aggressive bearish bets on the non-yielding yellow metal.(Newsmaker23)
Source: FXstreet
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