Dollar Retreat Supports Gold Ahead of Fed Minutes

Gold prices have found support this week as the US Dollar retreated across the board. The greenback's pullback has made dollar-denominated assets more attractive to international buyers, boosting demand for gold.

The inverse relationship between the US Dollar and gold is a fundamental driver in the precious metals market. When the dollar weakens, gold becomes cheaper for holders of other currencies, often increasing demand and pushing prices higher.

Investors are closely watching the release of the Federal Reserve's meeting minutes, scheduled for Wednesday. The central bank's future interest rate path will be a key catalyst for market direction, with hawkish tone potentially renewing downward pressure on gold prices.