Gold (XAU/USD) edges lower on Friday as the US Dollar (USD) stabilizes following the previous day’s sharp sell-off, while hawkish Federal Reserve (Fed) expectations remain a key headwind for the non-yielding metal.
At the time of writing, XAU/USD trades around $4,040, down nearly 1.50% on the day after struggling to sustain gains above $4,100.
The US Dollar Index (DXY) slumped to a six-week low on Thursday amid suspected foreign exchange intervention by Tokyo to support the Japanese Yen (JPY). The DXY, which tracks the Greenback’s value against a basket of six major currencies, trades around 100.28, up 0.30% on the day.
The Greenback attracts…
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