Gold price (XAU/USD) sticks to modest intraday losses through the early European session on Tuesday, though it lacks follow-through selling amid a combination of diverging forces.
Investors now seem convinced that the Federal Reserve (Fed) will keep interest rates steady amid expectations that US President Donald Trump's tariffs would underpin US inflation. This, in turn, is seen as a key factor acting as a headwind for the non-yielding yellow metal.
However, worries about the potential economic fallout from Trump's trade tariffs and US fiscal concerns fail to assist the US Dollar (USD) in attracting any meaningful buyers.
Apart from this, persistent geopolitical risks offer some support to the safe-haven Gold price and help limit deeper losses. Traders also seem reluctant and opt to wait for more cues about the Fed's rate-cut path. Hence, the focus will remain glued to the release of FOMC minutes on Wednesday.
Source: fxstreet
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