• Gold price ticks higher on Tuesday and stalls its recent corrective slide from the all-time top.
• Bets for further rate cuts by the Fed and geopolitical risks continue to benefit the XAU/USD.
• Traders now look forward to the release of key US macro data for some meaningful impetus.  

Gold price (XAU/USD) ended in the red for the second straight day on Monday amid optimism over China's stimulus and the Federal Reserve (Fed) Chair Jerome Powell's relatively hawkish remarks. This, in turn, prompted some follow-through profit-taking after the recent runup to the all-time peak touched last week, though the corrective pullback stalls near the $2,625-2,624 support zone. Nevertheless, the precious metal registered its best quarterly gains since early 2020 and seems poised to prolong its well-established uptrend. 

The incoming weaker US economic data, along with a continued slowdown in inflation, should allow the Fed to cut interest rates further. This, along with escalating geopolitical tensions in the Middle East and the risk of a broader conflict, should continue to benefit the safe-haven Gold price. This, along with expectations that China's stimulus measures will revive physical demand, assists the XAU/USD to attract some buyers during the Asian session on Tuesday and validates the near-term positive outlook ahead of the key US macro data.