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🪙 LIVE Gold News Update
Gold price is pressured by modest USD strength; Fed rate cut bets to limit losses

Gold price (XAU/USD) trades with a negative bias for the second straight day on Friday and slides back closer to the overnight swing low during the Asian session, though the downside remains cushioned. The US Dollar (USD) builds on the previous day's goodish recovery from a one-week low and gains some follow-through traction amid the optimistic outlook for the US economy. This, along with elevated US Treasury bond yields and the prevalent risk-on environment, are key factors exerting some downward pressure on the safe-haven precious metal.

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🌐LIVE News Update
Australian Dollar pares gains, PBoC could deliver two more RRR cuts in 2024

The Australian Dollar (AUD) pares its intraday gains on Tuesday. However, the decline in the US Dollar (USD) helped to support the AUD/USD pair during the early Asian hours. The AUD faced slight downward pressure following the release of Australia's Westpac Consumer Confidence data, which dipped 1.8% to 84.4 in March 2024 from February's 86.0, easing from 20-month highs.

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🪙 LIVE Gold News Update
Gold price gains positive traction as USD continues losing ground on Fed rate cut bets

Gold price (XAU/USD) attracts some buyers for the second straight day on Tuesday and builds on its steady ascent through the first half of the European session. Growing acceptance that the Federal Reserve (Fed) will begin its rate-cutting cycle in June keeps the US Treasury bond yields depressed and drags the US Dollar (USD) away from a multi-week high touched last Friday. This, along with persistent geopolitical risks stemming from the protracted Russia-Ukraine war and conflicts in the Middle East, turn out to be key factors benefitting the safe-haven precious metal.

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🛢️LIVE Crude Oil News Update
Crude Oil recedes post-Fed, WTI tumbles below $80

West Texas Intermediate (WTI) US Crude Oil fell below $80.00 per barrel on Wednesday as US Crude Oil supply continues to overwhelm demand, and the US Federal Reserve (Fed) remains hobbled on the path forward toward rate cuts.

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🪙 LIVE Gold News Update
Gold prices skyrocketed as Powell’s words boosted the yellow metal

Gold prices rallied sharply above the $2,300 milestone on Wednesday after the Federal Reserve kept rates unchanged while announcing that it would diminish the pace of the balance sheet reduction. In addition, Fed Chair Jerome Powell failed to provide forward guidance regarding lowering interest rates during the rest of the year.