Gold Pulls Back from $4,200 Ahead of Fed Minutes
Gold (XAU/USD) extends its pullback from two-week highs above $4,200 for a second consecutive day, with sellers now targeting the $4,100 level as the market focuses on the upcoming Federal Reserve meeting minutes.
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Gold is retreating for a second straight day early Tuesday, easing from two-week highs just above $4,200. The metal is now under pressure as sellers look to breach the $4,100 support zone.
Traders are turning their attention to the release of the Federal Reserve meeting minutes, which could provide further direction for the dollar and gold. The pullback follows a brief rally that pushed XAU/USD to its highest level in two weeks.
Source: FXStreet Forex News