Gold prices have advanced for the second consecutive day as investors anticipate a potential resumption of the metal's uptrend, following a recent pullback.
The diminished expectations for aggressive Federal Reserve rate cuts, driven by strong economic data and the new Trump administration’s policies, may restrict gold's upside potential.
The incoming Trump administration's focus on tax cuts and tariffs could elevate inflation, thereby complicating the Fed’s ability to ease monetary policy effectively.
Gold's attractiveness as a safe haven is bolstered by rising geopolitical tensions such as the Russia-Ukraine conflict and concerns over trade uncertainties.
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