Daily Market Report
➢ Gold price dips during Friday’s Asian session due to profit-taking and a stronger US Dollar.
➢ XAU/USD retreats from near a five-week high of $2,423.25 hit in the previous session.
➢ Stronger US economic data (Q2 GDP at 3.3% and jobless claims at 229K) supports the US
Dollar.
➢ Profit-taking pressure emerges after recent gold gains.
➢ Fed rate cut hopes rise, limiting deeper losses in gold prices.
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