Gold was one of the biggest movers in today’s session, which coincides with today’s GDP reading.
Many believe that as the U.S. economy continues to outperform expectations, the Federal Reserve will likely keep rates higher for longer.
This is due to the fact that consumer prices remain above the bank's target, leading to the need for tighter monetary policy.
As a result, traders fled to safe haven markets during Wednesday’s session, with the dollar also gaining.
XAU/USD peaked at $2,051 today.
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