Gold Rises Cautiously as Fed Hike Bets and US-Iran Tensions Limit Gains
Gold (XAU/USD) edged higher in Asian trade following volatile swings, but remains below $4,050 as Fed rate hike expectations, geopolitical tensions, and a strong USD cap further upside.
XAUUSD
Gold (XAU/USD) regained positive traction during the Asian session after two-way price moves in the prior session. However, the precious metal struggles to build on the advance and trades below the $4,050 level.
Bullish factors include expectations of further Federal Reserve interest rate hikes and escalating US-Iran tensions, which typically boost safe-haven demand. Yet a strengthening US dollar is also capping gains, creating a cautious trading environment.
Source: FXStreet Forex News