Gold price (XAU/USD) attracts some buying during the Asian session on Friday and for now, seems to have stalled the previous day's retracement slide f
Gold price catches fresh bids on Friday and reverses a part of the overnight losses. A modest downtick in the US bond yields undermines the USD and lends support. Geopolitical tensions also benefit the XAU/USD, though the upside seems capped. rom the $1,885 region, or over a two-week high. The yellow metal currently trades just above the $1,870 level, up 0.10% for the day, though any meaningful appreciating move now seems elusive.
The outlook, meanwhile, could now act as a tailwind for the US bond yields and the USD, which, in turn, warrants some caution before placing fresh bullish bets around the Gold price. That said, the recent dovish remarks by several Fed officials have been fuelling speculations that the US central bank is nearing the end of its rate-hiking cycle.
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