• Gold price remains on the defensive for the second straight day amid modest US Dollar strength.
• Thursday’s upbeat US macro data fuels hawkish Fed expectations and underpins the greenback.
• A positive risk tone furtehr exerts pressure on safe-haven XAU/USD ahead of the US PCE data.
• The market focus will remain glued to the highly-anticipated FOMC policy meeting next week.

Gold price trades with a mild negative bias for the second successive day on Friday and hovers around the $1,925 region during the early European session. The intraday downtick, however, lacks follow-through, warranting some caution before positioning for a deeper corrective pullback from a nine-month peak touched the previous day.