Gold price hits two-week high as USD declines on deteriorating US fiscal outlook

  • Gold price (XAU/USD) prolongs the uptrend for the fourth consecutive day and climbs to a nearly two-week high, around the $3,344-3,345 area during the Asian session on Thursday. Investors remain on edge following the US sovereign credit rating downgrade by Moody's and growing worries about rising US deficit on the back of US President Donald Trump's sweeping tax bill.