The post XAU/USD attracts some sellers below $3,250 on firmer US Dollar appeared on BitcoinEthereumNews.com.

Gold price tumbles to around $3,245 in Thursday’s early Asian session, down 1.25% on the day.  De-escalation in trade tensions and a firmer US Dollar weigh on the Gold price. US April employment report on Friday will be closely monitored.  The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.  Risk sentiment is improving after US President Donald Trump on Tuesday signed an executive order aimed at easing tariffs on foreign auto parts, granting carmakers a two-year window to raise domestic sourcing. Additionally, US Treasury Secretary Scott Bessent emphasized “very good” offers from trade partners. US trade representative Jamieson Greer said late Wednesday that US President Donald Trump’s administration expects to conclude initial tariff deals with some US trading partners within weeks. Optimism surrounding tariffs lifts the Greenback and weakens demand for traditional safe-haven assets like Gold as it makes yellow metal more expensive for holders of other currencies. On the other hand, rate cut hopes from the US Federal Reserve (Fed) after weaker-than-expected US economic data might help limit the yellow metal’s losses. The US economy contracted at an annualised rate of 0.3% in the first quarter (Q1) of 2025, according to the US Commerce Department on Thursday. This figure came in weaker than the estimation of 0.4% and down from the previous reading of a 2.4% expansion.  Futures contracts see the Fed starting rate cuts in June, with a total of four quarter-point reductions expected, lowering the rate to the 3.25%-3.50% band by year-end. Investors will closely watch the US April employment data due on Friday for fresh impetus. The NFP is expected to show 130K job additions in April,…

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Filed under: News - @ May 1, 2025 1:28 am