Gold gains some positive traction during the Asian session on Thursday, snapping a three-day losing streak to a fresh monthly low, although the upside potential seems limited. Against the backdrop of stalled US-Iran peace talks and a standoff over the Strait of Hormuz, the Fed’s hawkish outlook favors the US Dollar bulls and should keep a lid on the bullion. Traders now look to the US macro releases for a fresh impetus later today.
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