Gold (XAU/USD) continues its bullish momentum for the fourth consecutive day, trading near $2,660, its highest level in 1.5 weeks. The precious metal is drawing strength from increased safe-haven demand fueled by escalating tensions in the Russia-Ukraine conflict. Additionally, a weaker US Dollar (USD) is further supporting gold’s rally, which has been gaining strength since the beginning of the week.
Meanwhile, the US Dollar Index (DXY) is trading slightly lower at 106.50 during the early European session. However, expectations of inflationary policies under Donald Trump’s administration may limit the downside for the Greenback, as markets anticipate a slower pace of rate cuts from the Federal Reserve, which could temper the dollar’s decline.
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