Gold Prices Still Stable in the $3,300 area
Gold price (XAU/USD) struggles to capitalize on the previous day's move higher and oscillates in a narrow trading band during the Asian session on Friday amid mixed fundamental cues. Signs of easing tensions between the US and China – the world's two largest economies – remain supportive of a positive tone around the equity markets. Apart from this, a modest US Dollar (USD) uptick turns out to be another factor that contributes to keeping a lid on the precious metal.
Meanwhile, Federal Reserve (Fed) officials showed willingness for potential interest rate cuts, which might cap the USD upside and act as a tailwind for the non-yielding Gold price. Moreover, worries about the potential economic fallout from US President Donald Trump's trade tariffs and persistent geopolitical uncertainties suggest that the path of least resistance for the safe-haven commodity remains to the upside, warranting some caution for aggressive bearish traders.
Source: FXStreet