Gold struggled to capitalize on the overnight bounce and remained below the $1714-16 supply zone.
The prevailing risk-on mood seemed to be weighing on the commodity’s perceived safe-haven status.
A broad-based USD weakness helped limit the downside ahead of the US GDP, FOMC policy decision.
Gold edged lower during the early European session and refreshed daily lows, albeit has managed to hold above the $1700 round-figure mark.
The precious metal failed to capitalize on the previous day's goodish intraday bounce from the $1690 support area and once again started retreating from the $1714-16 supply zone


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