Gold price (XAU/USD) climbed to a fresh record high, around the $2,531-2,532 area on Tuesday amid growing acceptance that the Federal Reserve (Fed) will soon start its policy easing cycle.
Gold price shot to a fresh all-time peak on Tuesday amid dovish Fed -inspired USD selling bias. Geopolitical tensions further contributed to driving flows towards the safe-haven XAU/USD. Bulls take a pause and await more cues about the Fed ’s rate-cut path before placing fresh bets. Gold price climbed to a fresh record high, around the $2,531-2,532 area on Tuesday amid growing acceptance that the Fed eral Reserve will soon start its policy easing cycle.
Traders, however, turn cautious ahead of the release of the July FOMC meeting minutes later this Wednesday and Fed Chair Jerome Powell's speech on Friday, which will be looked for cues about the future policy path.
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