Gold price struggles to lure buyers as easing Middle East tensions offsets weaker USD

  • Gold price (XAU/USD) is trading higher during the Asian session on Wednesday and looking to build on the previous day's modest bounce from sub-$3,300 levels, or over a two-week low. Federal Reserve (Fed) Chair Jerome Powell maintained his wait-and-see rate policy, though he said that lower inflation and weaker labor hiring could lead to an earlier rate cut.