Gold price gains some positive traction during the Asian session on Wednesday and reverses a part of the previous day's sharp fall to the $1,941 area, or a three-week low. The XAUUSD, however, struggles to capitalize on the modest intraday uptick and currently trade just below the $1,950 level, still up over 0.20% for the day. Fitch downgraded the US Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA', pointing to expected fiscal deterioration over the next three years, an erosion of governance and a growing general debt burden. The announcement tempers investors' appetite for riskier assets, which is evident from a modest decline in the US equity futures and offers some support to the traditional safe-haven Gold price. This, along with some intraday USD selling, turns out to be another factor acting as a tailwind for the XAUUSD. #gold# #XAU/USD# #TradeNotes# #GOLDTODAY# #forexmarket#