The trend is strongly bullish due to the expectation of Federal Reserve interest rate cuts. Comments from Fed Chair Powell support non-yielding gold, with markets awaiting U.S. retail sales data for momentum.
Fed Chair Powell's statements on inflation and interest rate policy indicate potential monetary easing ahead, providing near-term support for gold prices. The U.S. Dollar's positive momentum and global stock markets' risk-on sentiment could limit gold price increases in the medium term.
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