Commodities
Gold Pulls Back From Three-Month High Amid Safe-Haven Demand
The price of Gold (XAU/USD) has pulled back from its three-month high after reaching $4640.53, but analysts believe the downside is limited.
The metal's rally was driven by a combination of factors, including the return of debasement trade and technical buying.
The U.S. measures aimed at capping long-dated yields have sparked a rush to safe-havens like Gold, while receding Fed rate-hike expectations and global growth concerns have also underpinned its price.
Central bank gold purchases picked up in Q2 after a weak Q1, providing support to the market.