Gold price (XAU/USD) continues losing ground through the early part of the European session on Friday and now looks to extend the overnight retracement slide from the record peak. The optimistic outlook for the US economy lifts the US Dollar (USD) to a three-week high, which, in turn, is seen as a key factor undermining the commodity. Apart from this, a generally positive risk tone and hopes for a ceasefire in Gaza exert additional downward pressure on the safe-haven precious metal.
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