Gold price (XAU/USD) builds on its uptrend witnessed over the past week or so and climbs beyond the $2,700 mark, hitting a fresh record high during the Asian session on Friday. Major central banks have been cutting interest rates and are expected to ease monetary policy further. This, along with persistent geopolitical risks stemming from the ongoing conflicts in the Middle East and the uncertainty surrounding the US Presidential election, turn out to be key factors driving flows towards the precious metal.

Apart from this, a modest US Dollar (USD) pullback from its highest level since early August touched on Thursday further lends support to the Gold price. Meanwhile, traders no longer expect another outsized interest rate cut by the Federal Reserve (Fed) in November, which had been a key factor behind the recent upswing in the US Treasury bond yields. This, in turn, should help limit any meaningful USD corrective decline and hold back traders from placing fresh bullish bets around the non-yielding yellow metal.#gold#GOLD_UPDATE #MemeCoinTrending #USRetailSalesBoost #BNBRisesTo600