Gold price (XAU/USD) has been trending lower since the beginning of the current week and plunged to its lowest level since March 10, around the $1,858
-1,857 region on Thursday. That said, a sharp US Dollar pullback from a 10-month peak helps limit the downside, though the commodity struggles to attract any meaningful buying during the Asian session on Friday. Meanwhile, a looming shutdown of the US government on October 1, which poses a risk to the economy, along with persistent worries over China's ailing property sector, lends some support to the safe-haven precious metal.
A deadlock over demands from Republicans for deep public spending cuts poses the risk of a US government shutdown. Growing concerns over slowing Chinese growth and a property market crash continue to weigh on investors' sentiment. The market focus remains glued to the crucial US PCE Price Index, which will influence expectations about the Fed's future rate-hike path.
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