Daily Market Report
➢ Gold (XAU/USD) holds above $4,880, extending a rebound from the $4,400 area, its lowest level since January 6.
➢ A softer US Dollar on Tuesday supports gold after the USD paused its recent recovery from a four-year low.
➢ The rebound follows a sharp two-day selloff, attracting dip buyers during the Asian trading session.
➢ Kevin Warsh’s nomination as the next Fed Chair limits deeper USD losses, as his hawkish stance may keep policy tight.
➢ Strong US ISM Manufacturing PMI (52.6) signals economic resilience, also supporting the USD and capping gold upside.
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