Gold price trades with modest losses; holds above $2,900 amid rising trade tensions
Gold price (XAU/USD) attracts fresh sellers during the Asian session on Thursday, though it manages to hold above the $2,900 round-figure mark.
A pickup in the US Treasury bond yields assists the US Dollar (USD) in moving away from its lowest level since December 10 retested on Wednesday and undermines the precious metal.
Apart from this, a generally positive tone around the equity markets turns out to be another factor weighing on the safe-haven bullion.
That said, the uncertainty over US President Donald Trump's tariff plans might continue to act as a tailwind for the Gold price.
Moreover, signs of a cooling US economy and growth concerns should contribute to limiting losses for the commodity.
Traders also seem reluctant and keenly await the release of the US Personal Consumption Expenditure (PCE) Price Index on Friday for cues about the Federal Reserve's interest rate path, which would influence the XAU/USD.
Source: FXstreet