Gold price retakes $3,300 amid a broadly weaker USD and reviving safe-haven demand

  • Gold price (XAU/USD) prolongs its weekly uptrend for the third straight day and climbs further beyond the $3,300 mark, to a one-and-a-half-week high during the Asian session on Wednesday. The US Dollar (USD) selling bias remains unabated in the wake of US fiscal concerns, which led to a downgrade of the US government's sovereign credit rating last Friday.