Gold Rebounds as Yen Rally Weighs on US Dollar, Despite Hawkish Fed Expectations

The price of Gold has rebounded on Thursday after reaching a nearly four-week low the previous day, as a sharp rally in the Japanese Yen weighs heavily on the US Dollar.

A weaker US Dollar is generally positive for Gold, but several near-term headwinds remain in place, including elevated Bond yields and hawkish Federal Reserve expectations.

The US Dollar Index (DXY) trades around 99.26, near a one-week low, after reaching 99.86 on Wednesday, its highest level since August 14.