Gold is attempting a bounce from the $4,850 level, having touched a one-week low on Tuesday. Signs of progress in US–Iran talks dented demand for the traditional safe-haven bullion, weighing on Gold in early trades. However, rising bets for more Fed rate cuts keep the US Dollar bulls on the defensive and act as a tailwind for the non-yielding yellow metal. Traders now seem reluctant ahead of the FOMC Minutes, which would offer cues about the Fed’s rate-cut path and provide some meaningful impetus.
Source: https://www.fxstreet.com/news/australia-westpac-leading-index-mom-fell-from-previous-008-to-01-in-january-202602180146
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