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Gold price advances to over one-week top, closer to 50-day SMA pivotal resistance
Gold price (XAU/USD) attracts some buyers during the Asian session on Thursday and climbs to over a one-week top, around the $2,338 area in the last hour. The incoming US macro data pointed to signs of easing inflationary pressures and that the economy is slowing down, fueling speculations that the Federal Reserve (Fed) will cut interest rates twice this year. The expectations keep the US Dollar (USD) pinned near the weekly low and turn out to be a key factor acting as a tailwind for the commodity. Adding to this, geopolitical tensions and renewed political uncertainty in Europe lend additional support to the ... (full story)