GOLD BUY DIRECTIONS TODAY

Gold price (XAU/USD) trades with a mild positive bias through the first half of the European session on Tuesday, albeit lacks follow-through and remains close to the weekly low, around the $2,150 area touched the previous day. The uncertainty over the Federal Reserve's (Fed) rate-cut path turns out to be a key factor that is holding back traders from placing fresh directional bets around the non-yielding yellow metal. Meanwhile, the warmer-than-expected US consumer inflation data on Tuesday fuelled speculations that the Fed might stick to its higher for longer narrative in the near term. This, along with the underlying strong bullish sentiment across the global equity markets, acts as a headwind for the precious metal.

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