South Korea Service Sector Output climbed from previous -0.3% to -0.1% in April

Gold price ticks lower following the overnight solid bounce from the $3,245 area or a one-week low. However, the near-term bias appears tilted in favor of bullish traders. A federal appeals court temporarily reinstated Trump’s tariffs, trigging a turnaround in the risk sentiment. Apart from this, US fiscal concerns, geopolitical risks, Fed rate cut bets, and a weaker USD should act as a tailwind for the XAU/USD ahead of the US PCE Price Index.