Gold price (XAU/USD) edges lower to around $2,645 during the early Asian session on Monday.
Gold price trades in negative territory near $2,645 in Monday’s early Asian session. Trump trades and the Fed’s cautious stance undermine the yellow metal price. The geopolitical risks might help limit Gold ’s losses. Gold price edges lower to around $2,645 during the early Asian session on Monday. A recovery in the US Dollar broadly weighs on the precious metal. However, persistent geopolitical tensions could cap the downside for XAU/USD.
Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency.
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