The post Gold price consolidates above $3,000; downside potential seems limited appeared on BitcoinEthereumNews.com.

Gold price bulls seem reluctant amid a positive risk tone and the recent USD recovery. Bets that the Fed will resume its rate-cutting cycle soon offer support to the bullion. Tuesday’s US macro data and Fed speak could provide impetus to the XAU/USD pair. Gold price (XAU/USD) struggles to gain any meaningful traction during the Asian session on Tuesday, though it holds above the $3,000 psychological mark amid mixed fundamental cues. The US Dollar (USD) preserves its recent recovery gains from a multi-month low and sits near a three-week high touched on Monday. Apart from this, the upbeat market mood, bolstered by hopes for less disruptive US trade tariffs, the Russia-Ukraine peace deal, and the optimism over China’s stimulus, acts as a headwind for the safe-haven precious metal.  Meanwhile, the growing acceptance that the Federal Reserve (Fed) will resume its rate-cutting cycle soon, amid worries over a tariff-driven US economic slowdown, holds back the USD bulls from placing aggressive bets. This, in turn, is seen lending some support to the non-yielding Gold price. Hence, it will be prudent to wait for a sustained break and acceptance below the $3,000 mark before confirming that the XAU/USD has topped out in the near term and positioning for an extension of the recent pullback from the all-time peak.  Daily Digest Market Movers: Gold price remains on the defensive amid the upbeat market mood The global risk sentiment remains well supported by hopes that US President Donald Trump’s so-called reciprocal tariffs, set to take effect on April 2, will be narrower and less strict than initially feared.  Russian state media RIA reported that a joint statement from the US and Russia is expected on Tuesday after day-long talks in Saudi Arabia focused on a narrow proposal for a Black Sea maritime ceasefire deal. According…

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Filed under: News - @ March 25, 2025 4:21 am