• Gold price attracts some sellers as rebounding US bond yields help revive the USD demand.
• Trade war jitters and geopolitical tensions could help limit losses for the safe-haven XAU/USD.
• Thin trading volumes on the back of a US holiday warrant some caution for aggressive traders. 

Gold price (XAU/USD) extends the previous day's retracement slide from the $2,658 region and drifts lower during the Asian session on Thursday. Wednesday's US macro data dump pointed to a still resilient US economy and stalled progress on inflation. This suggests that the Federal Reserve (Fed) might be cautious about further rate cuts and triggers a modest bounce in the US Treasury bond yields, which helps revive the US Dollar (USD) demand and is seen undermining the non-yielding yellow metal. 

The markets, however, are still pricing in a greater chance that the US central bank will lower borrowing costs by 25 basis points (bps) in December. Furthermore, the US President-elect's threatened tariffs fueled concerns about a renewed trade war between the world’s largest economies and could undermine global economic growth. This, along with persistent geopolitical risks stemming from the protracted Russia-Ukraine war, assists the safe-haven Gold price to hold above the $2,600 mark.