28 Aug 2025
Gold loses ground on profit-taking, US GDP data looms
Gold price edges lower in Thursday’s Asian session.
Worries over the Fed’s independence might limit the downside for the Gold price.
The second estimate of US Q2 GDP data will take center stage later on Thursday.
The Gold price (XAU/USD) trades in negative territory during the Asian trading hours on Thursday. The precious metal retreats from a three-week high near $3,400 amid a rebound in the US Dollar (USD) and some profit-taking. Concerns about the Federal Reserve's (Fed) independence lingered after US President Donald Trump fired Fed Governor Lisa Cook over allegations of mortgage borrowing misconduct. This, in turn, underpins the Gold price as it is considered a traditional safe-haven asset.
