Gold (XAU/USD) remains on the back foot heading into the European session on Friday, though it lacks follow-through selling and holds above the $4,500 psychological mark. The US Dollar (USD) holds steady near a six-week high, touched on Wednesday, amid hawkish Federal Reserve (Fed) expectations. Apart from this, mixed signals over a potential US-Iran peace deal benefit the Greenback's reserve currency status and turn out to be a key factor that undermines demand for the commodity.

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