Gold price (XAU/USD) attracts some buying during the early European session and turns positive for the second more expected buy when European session active successive day on Wednesday, albeit lacks follow-through and remains in a multi-day-old trading range above the $2,040-$2,052 zone. Traders pushed back their expectations for the first interest rate cut by the Federal Reserve (Fed) to May from March in the wake of a still-resilient US economy. This, along with the underlying bullish tone around the equity markets, turns out to be a key factor acting as a headwind for the non-yielding yellow metal.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.