Gold prolongs its uptrend for the fourth day in a row and retakes the $4,700 mark, touching a nearly two-week high during the Asian session on Wednesday. President Donald Trump’s comments on Tuesday that the US could withdraw from the Iran war in two to three weeks fuel optimism about the de-escalation of geopolitical tensions. Moreover, the overnight pullback in Oil prices eases inflationary concerns and tempers Fed rate cut bets, which undermines the US Dollar and is seen driving flows towards the non-yielding bullion.
Source: https://www.fxstreet.com/news/south-korea-sp-global-manufacturing-pmi-increased-to-526-in-march-from-previous-511-202604010030
