Gold price (XAU/USD) holds positive ground around $1,925 during the early Asian trading hours on Wednesday. The uptick of the precious metal is suppor
Gold price gains momentum near $1,925 amid the softer USD. US Retail Sales for September rose by 0.7% MoM vs. 0.8% prior, better than expected. The escalating geopolitical tensions in the Middle East might boost could boost a safe-haven flow. Investors will monitor the Chinese growth numbers, Industrial Production, and Retail Sales on Wednesday. ted by a correction of the US Dollar .
However, traders will take more cues from the Fed speakers on Wednesday, including Waller, Williams, and Bowman, which might offer some hints about further monetary policy paths. The hawkish remarks from the Fed officials might boost the USD demand and exert pressure on the US Dollar-denominated commodities, including the Gold price. Furthermore, the geopolitical tension between Israel-Hamas remains in focus.
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