Gold Rises as $4,000 Support Holds, Fed Caps Upside
Gold edged higher on Tuesday as buyers defended the $4,000 level, while hawkish Federal Reserve expectations limited further gains. The precious metal traded around $4,058, up 1.27% on the day.
XAUUSD
Gold (XAU/USD) ticked higher on Tuesday, finding support near the psychological $4,000 mark as buying interest emerged. Traders are also monitoring Middle East developments for potential economic fallout.
However, upside remains constrained by hawkish Federal Reserve expectations, which continue to weigh on the non-yielding asset. At the time of writing, XAU/USD was trading around $4,058, up 1.27% on the day.
Source: FXStreet Forex News