GOLD PRICE (XAU/USD) EDGES LOWER TO TWO-WEEK LOW AMID
GOLD PRICE (XAU/USD) EDGES LOWER TO TWO-WEEK LOW AMID
Gold prices (XAU/USD) have declined to a two-week low near $3,235 during the early Asian session on Friday
The easing of trade tensions between the US and its trading partners has reduced the demand for gold as a safe-haven asset, leading to downward pressure on its price.
The strengthening of the US Dollar, supported by positive developments in US-China trade talks, has further weighed on gold prices, as gold becomes more expensive for holders of other currencies.
Investor sentiment has shifted towards riskier assets due to the reduced geopolitical uncertainties, leading to a decrease in gold's appeal among investors seeking safety.
The decline in gold prices has breached key support levels, indicating a bearish trend. Traders are monitoring for potential further declines if the easing of trade tensions continues.
