Gold slips from two-week peak as dollar ticks up

Gold prices experienced a slight decrease as the dollar strengthened, yet dovish signals from Federal Reserve Chair Jerome Powell, hinting at potential U.S. interest rate cuts, provided support. Asian share markets rallied on the prospect of renewed rate cuts. Investors are now awaiting U.S. personal consumption prices data, while physical gold demand in Asia remains subdued.

​Gold prices experienced a slight decrease as the dollar strengthened, yet dovish signals from Federal Reserve Chair Jerome Powell, hinting at potential U.S. interest rate cuts, provided support. Asian share markets rallied on the prospect of renewed rate cuts. Investors are now awaiting U.S. personal consumption prices data, while physical gold demand in Asia remains subdued.