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Gold price remains on the defensive; downside seems limited as traders await Fed decision
Gold price sticks to modest intraday losses through the early European session on Wednesday, though it lacks any follow-through selling and remains close to a multi-month peak touched last week.
A generally positive tone around the equity markets is seen as a key factor acting as a headwind for the safe-haven precious metal. That said, bets that the Federal Reserve (Fed) will keep cutting rates in 2025, a fresh leg down in the US Treasury bond yields and modest US Dollar (USD) downtick act as a tailwind for the non-yielding yellow metal.
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