Gold price continues to attract buyers amid growing September Fed rate cut bets.
Tuesday’s upbeat US Retail Sales data underpins the USD and might cap the metal.
The risk-on mood further warrants caution before positioning for additional gains.
Gold price (XAU/USD) builds on the previous day's strong move up and touches a fresh all-time high, around the $2,476-2,477 area during the Asian session on Wednesday. The recent comments by Federal Reserve (Fed) officials cemented expectations about an imminent start of the rate-cutting cycle in September. This, in turn, keeps the US Treasury bond yields depressed near a multi-month trough and is seen as a key factor benefiting the non-yielding yellow metal.
加载失败()