- Gold price attracts some intraday sellers following an intraday uptick to over a one-week high.
- Rebounding US bond yields revive the USD demand and exert some pressure on the XAU/USD.
- Geopolitical tensions could limit losses for the safe-haven precious metal ahead of Fed speaks.
Gold price (XAU/USD) extends its intraday pullback from the $2,642 area, or a one-and-half-week high touched earlier this Wednesday and drops to a fresh daily low during the first half of the European session. The US Dollar (USD) attracts some dip-buyers on the back of a goodish pickup in the US Treasury bond yields, bolstered by expectations of a less aggressive policy easing by the Federal Reserve (Fed). This, in turn, is seen as a key factor driving flows away from the non-yielding yellow metal.
Adding to this, a positive risk tone further undermines demand for the safe-haven Gold price, which, for now, seems to have…
