Gold price (XAU/USD) retains its bullish bias through the early European session on Tuesday and currently trades around the $3,010 area or the all-time peak.
Persistent uncertainty over US President Donald Trump's policies, US recession fears, and geopolitical risks continue to push the safe-haven precious metal higher for the second straight day.
This also marks the fifth day of a positive move for the commodity in the previous six and is further fueled by expectations that the Federal Reserve (Fed) will lower borrowing costs several times this year.
The XAU/USD bulls, meanwhile, seem rather unaffected by the prevalent risk-on environment, which remains well supported by the optimism over China's stimulus measures and hopes for a Ukraine peace deal.
Even a modest US Dollar (USD) bounce from a multi-month low touched on Monday does little to hinder the positive move, suggesting that the path of least resistance for the Gold price remains to the upside.
Traders, however, might refrain from placing fresh bullish bets and opt to wait for the outcome of a two-day FOMC meeting on Wednesday.
Source: FXStreet
