Gold price (XAU/USD) struggles to capitalize on a modest Asian session uptick and currently trades just below the $3,300 mark, close to the weekly low touched the previous day.
Better-than-expected US economic data released on Tuesday calmed recession fears and assisted the US Dollar (USD) in attracting buyers for the second straight day, which, in turn, is seen undermining the commodity.
Apart from this, a generally positive risk tone turns out to be another factor acting as a headwind for the safe-haven precious metal.
However, the uncertainty surrounding US President Donald Trump's trade tariffs remains, which, along with geopolitical risks, should keep a lid on the market optimism.
Apart from this, concerns about the worsening US fiscal situation and bets that the Federal Reserve (Fed) will cut interest rates further in 2025 should keep a lid on any meaningful USD upside.
his might hold back traders from placing aggressive bearish bets around the Gold price and warrants some caution before positioning for further depreciation.
Source: Fxstreet
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