Gold price (XAU/USD) extends its consolidative price move around the $3,350 region through the first half of the European session on Wednesday and remains close to a nearly four-week high touched the previous day.
Traders now seem reluctant and opt to wait for potential talks between US President Donald Trump and Chinese President Xi Jinping before placing fresh directional bets.
In the meantime, persistent trade-related uncertainties and geopolitical risks might continue to act as a tailwind for the safe-haven precious metal.
Meanwhile, expectations that the Federal Reserve (Fed) will stick to its easing bias and lower borrowing costs further in 2025 and concerns about the worsening US fiscal condition keep the US Dollar (USD) bulls on the defensive.
This turns out to be another factor lending some support to the non-yielding Gold price, though a generally positive risk tone could keep a lid on any meaningful upside for the bullion. Traders now look forward to the US ADP report on private-sector employment and the US ISM Services PMI for short-term impetuses.
Source: FXStreet
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