Gold remains depressed near the $4,700 mark early Thursday, below a three-week top set the previous day, though it lacks bearish conviction. Scepticism over the durability of the US-Iran ceasefire supports the US Dollar and undermines the bullion. However, the Fed’s dovish outlook, stating that it still sees rate cuts if inflation were to fall in line with expectations, acts as a tailwind for the non-yielding yellow metal.
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