Gold Prices Weaken On Profit-Taking
Gold prices (XAU/USD) held steady at the end of the week. After falling from an all-time high of $3,358 as investors booked profits during the long Easter holiday. Significant uncertainty over US President Donald Trump's tariffs on imports into the US and ongoing geopolitical tensions could support gold prices, which are known as safe-haven assets.
On the other hand, Federal Reserve (Fed) Chairman Jerome Powell was hawkish, reducing the chances of a Fed rate cut in June. This, in turn, could lift the Greenback and weigh on USD-denominated commodity prices. Powell said that a weak economy and high inflation could be at odds with the Fed's goals and could lead to a stagflation scenario. Federal Reserve (Fed) Mary Daly is scheduled to speak on Friday. Trading volumes are likely to be light on Good Friday.
Source: FXStreet