GOLD PRICE FORECAST: XAU/USD CLINGS TO GAINS JUST ABOVE $2,000 AMID WEAKER US DOLLAR

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  • Gold price regains positive traction on Tuesday amid the emergence of fresh US Dollar selling.
  • Bets for more rate hikes by the Federal Reserve could cap any meaningful gains for the metal.
  • Traders also seem reluctant ahead of the US CPI report and the FOMC minutes on Wednesday.

Gold price attracts fresh buying on Tuesday and snaps a two-day losing streak to the $1,982-$1,981 region, or a three-day low touched the previous day. The XAU/USD sticks to its intraday gains through the first half of the European session and is currently placed just above the $2,000 psychological mark, near the top end of the daily trading range.


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