Gold remains on the back foot through the Asian session, though it manages to hold above the $4,700 mark, and for now, seems to have stalled the previous day’s pullback from a three-week high. Skepticism over the durability of the US-Iran ceasefire offers some support to the US Dollar and acts as a headwind for the commodity. However, the US Federal Reserve’s dovish outlook holds back the USD bulls from placing aggressive bets and helps limit the downside for the non-yielding yellow metal.
Source: https://www.fxstreet.com/news/spain-10-y-obligaciones-auction-declined-to-3435-from-previous-3476-202604090857
