Gold price enters a bullish consolidation phase near a fresh one-year high touched on Friday.Expectations for an imminent pause in the Federal Reserve's rate-hiking cycle lend support.The prevalent US Dollar selling bias further contributes to limiting the downside for the metal.
Gold price consolidates its recent gains to a fresh one-year high and seesaws between tepid gains/minor losses through the first half of the European session on Friday. The XAU/USD is currently placed around the $2,040 area and seems poised to prolong its recent upward trajectory witnessed over the past month or so.
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