Gold Recovers from Monthly Low as Hawkish Fed, Strong USD Cap Gains
Gold (XAU/USD) edged higher in Asian trade on Friday, rebounding from near the monthly low, but further upside appears limited due to a hawkish Federal Reserve outlook and a firm US dollar.
XAUUSD
Gold (XAU/USD) attracted some buying during the Asian session on Friday, recovering a portion of the previous day's losses that had pushed the price back near the monthly low.
However, analysts suggest that any meaningful advance is likely to remain constrained. A hawkish stance from the Federal Reserve, combined with a resilient US dollar, continues to weigh on the precious metal's appeal.
Source: FXStreet Forex News