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Gold eases from four-week top as Hormuz risks temper USD weakness
Gold struggles to capitalize on a modest Asian session uptick to a four-week high.
Hormuz risks eased the recent USD selling bias, which caps gains for the commodity.
Iran diplomacy hopes and receding Fed rate hike bets keep a lid on the USD bounce.
Gold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day. The US Dollar (USD) selling seems to have abated for the time being, and is seen acting as a headwind for the commodity. However, hopes for Iran diplomacy and diminishing odds for a rate hike by the US Federal Reserve (Fed) keep the USD bulls on the sidelines, supporting the precious metal.
US Vice President JD Vance, speaking at a public event, again struck a cautiously optimistic tone and said that Washington is pursuing a…




