Gold price (XAU/USD) struggles to capitalize on the previous day's late rebound from the $3,054 area, or a one-week low, and attracts fresh sellers during the Asian session on Friday. However, the risk-off mood, fueled by growing market concerns that US President Donald Trump's reciprocal tariffs could dent global economic growth and trigger a recession in the US, helps limit losses for the safe-haven precious metal.
Meanwhile, expectations that the Federal Reserve (Fed) will resume its rate-cutting cycle soon on the back of a tariffs-driven US economic slowdown keep the US Dollar (USD) depressed near a multi-month low touched on Thursday. This, in turn, is seen as another factor lending support to the non-yielding Gold price. Traders also seem reluctant and opt to wait for the release of the crucial US Nonfarm Payrolls (NFP
Gold price bears seem reluctant amid heightened safe-haven demand
Gold price attracts some sellers for the second successive day on Friday, though a combination of factors should continue to act as a tailwind and limit any meaningful corrective slide from the record high.
US President Donald Trump rattled global financial markets late Wednesday and unveiled reciprocal tariffs of at least 10% on all imported goods, which could negatively impact the world economy.
Traders ramped up expectations that the Federal Reserve will resume its rate-cutting cycle in June and lower borrowing costs four times by the year-end as Trump's trade policies reignite US recession fears.
The yield in the benchmark 10-year US government bond slides below 4.0% for the first time in six months and fails to assist the US Dollar to build on the overnight bounce from a multi-month trough.

source: Fxstreet