Gold prices (XAU/USD) fell in the Asian session on Wednesday, after touching a two-week high of around $3,395. Pressure came primarily from profit-taking and a moderate strengthening of the US dollar, causing the price to correct from its peak.
Despite the weakening, gold's downside is expected to be limited. Market concerns about the Fed's independence—amid US President Donald Trump's increasingly aggressive efforts to oust one of its governors—tend to maintain interest in safe-haven assets. In such situations, gold typically remains in demand as a hedge.
DISCLAIMER
Note: This article is for analytical purposes only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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