Gold prices (XAU/USD) rose to a weekly high early in the European session on Thursday as renewed trade concerns boosted demand for traditional safe-haven assets.
Furthermore, growing acceptance that the US Federal Reserve (The Fed) will continue its interest rate cut cycle in September proved to be another factor driving capital flows toward the non-yielding yellow metal and contributing to the positive movement.
Meanwhile, dovish Fed expectations pushed the US Dollar (USD) to a nearly two-week low in the last hour, providing additional support for gold prices.
Source: Newsmaker.id
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