• Gold price stages a modest recovery from over a one-week low touched earlier this Wednesday.
• Bets for jumbo rate hikes by Federal Reserve, a stronger US Dollar to cap gains for the XAU/USD.
• Traders now look forward to the US labor market data and Powell’s testimony for a fresh impetus.

Gold prices bounces off over a one-week low touched earlier this Wednesday and steadily climbs to the $1,815 region during the first half of the European session. The XAU/USD, for now, seems to have snapped a two-day losing streak, though any meaningful recovery still seems elusive amid rising bets for more aggressive policy tightening by the Federal Reserve (Fed).