Gbpusd Will Make Huge Move In Buy

Gold price (XAU/USD) retreats after hitting a fresh record high earlier this Thursday and trades just above the $2,200 round-figure mark during the first half of the European session, still up for the second straight day. The prevalent risk-on environment – as depicted by a generally positive tone around the equity markets – prompts some profit-taking around the safe-haven precious metal. Apart from this, a modest uptick in the US Treasury bond yields turns out to be another factor undermining the commodity amid slightly overbought conditions on short-term charts.

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