Gold (XAU/USD) is experiencing a downturn on Tuesday, with traders taking profits after a strong rally that pushed prices to six-week highs. The currency pair is currently trading around $4,190, reflecting a decline of over 1% for the day. Despite expectations of a dovish stance from the Federal Reserve, the precious metal is struggling to maintain upward momentum.
The pullback in gold prices comes as market participants reassess their positions following Monday's gains. The current exchange rate indicates a cautious sentiment in the market, as investors weigh the implications of potential shifts in monetary policy and their impact on the USD. As the trading week progresses, the outlook for XAU/USD remains uncertain, with further fluctuations likely depending on economic data releases and Fed commentary.
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Data Source: FX Killer Analysis Team Updated: 2025-12-02 16:28
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.