- Gold price grinds higher after snapping two-day downtrend the previous day.
- US Dollar fails to trace firmer United States Treasury bond yields and allow XAU/USD to remain up.
- Receding hawkish bias of Federal Reserve policymakers, easing best on 0.25% Fed rate hike in May propel Gold price.
- Headlines from International Monetary Policy test XAU/USD bulls ahead of US inflation, FOMC Minutes.
Gold price (XAU/USD) grinds higher past $2,000, mildly bid near $2,005 during early Wednesday in Asia. In doing so, the bright metal cheers a broad US Dollar weakness while also portraying the market’s cautious mood ahead of the top-tier data/events during a sluggish session. It’s worth noting, however, that the recent reduction in the hawkish Federal Reserve (Fed) bias joins mixed comments from the Fed policymakers and the International Monetary Fund (IMF) to weigh on the US Dollar and propel the Gold price.
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