Gold Price Drifts Lower Amid Geopolitical Tensions and Mixed Market Sentiment

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Gold Price Drifts Lower Amid Geopolitical Tensions and Mixed Market Sentiment
Gold Price,US Bond Yields,Geopolitical Risks

The gold price is experiencing a slight decline during the Asian session, influenced by geopolitical factors and a cautious stance from the US Federal Reserve. The non-yielding nature of gold is challenged by rising bond yields, yet persistent geopolitical risks and trade war fears help maintain its value.

Gold price sees a modest dip during the Asian session on Thursday, benefiting from geopolitical risks and fears of a trade war, which help limit losses. US bond yields have rebounded slightly, a development that undermines the non-yielding gold. The ongoing hawkish stance from FOMC members, including Powell, suggests that the US central bank will proceed cautiously with rate cuts. The prevalent risk-on sentiment and lack of significant US Dollar buying also affect the precious metal's price.

Traders await the Nonfarm Payrolls report to take a decisive position

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