Gold price (XAU/USD) erases Monday’s gains, diving over 1.30% on Tuesday, pressured by broad US Dollar strength, driven by a hawkish Federal Reserve, as well as a risk-off mood that is driving flows toward the Greenback's safe-haven appeal.
TD Securities strategists note that Canadian headline Consumer Price Index (CPI) for May surprised to the upside, driven by energy and seasonal factors, while core measures remained stable near 2%.
The GBP/USD pair adds to its modest intraday losses and touches a fresh daily low, around the 1.3215-1.3210 region during the first half of the European session.