Gold price (XAU/USD) struggled to capitalize on the previous day's strong recovery move from the $3,246-3,245 region, or over a one-week low, and attracted fresh sellers during the Asian session on Friday. The US Dollar (USD) regains some positive traction following Thursday's dramatic intraday turnaround, amid some repositioning trade ahead of the pivotal inflation report from the US. This, in turn, is seen undermining demand for the bullion. However, a combination of factors should act as a tailwind for the commodity and help limit deeper losses.
A federal appeals court on Thursday paused a separate trade court ruling that blocked US President Donald Trump's tariffs. This adds to a layer of uncertainty, which, along with persistent geopolitical risks, should offer some support to the safe-haven Gold price. Moreover, the growing acceptance that the Federal Reserve (Fed) will lower borrowing costs further in 2025 might keep a lid on any meaningful USD appreciation and support prospects for the emergence of some dip-buying around the non-yielding yellow metal, warranting caution for bears.
Source: FXStreet
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