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Gold price is attempting another run toward the two-week highs of $2,041 reached on Friday, as the US Dollar keeps its downbeat tone intact amid renewed weakness in the US Treasury bond yields and ahead of the top-tier US economic data.
Gold price is replicating the recovery move seen in Tuesday’s Asian trading early Wednesday, as broad risk-aversion underpins the traditional safe-haven.
Gold price is reversing a part of the previous decline on Thanksgiving Day, with markets optimistic about a potential end to the US Federal Reserve’s (Fed) tightening cycle.
Gold price is trying hard to sustain the previous bullish momentum early Wednesday, trading around the $2,000 barrier, awaiting a fresh batch of key US economic data releases for fresh hints on the US Federal Reserve’s (Fed) interest rate outlook.