• XAU/USD up 0.4% in Asia, pares gains after rallying 1% on Tuesday

• Eases on profit-taking after nearing psychological $ 4700

• Asia range 4649.82-4696.18; downside limited on dollar-debasement fears

• U.S. measures aimed at capping long-dated yields sparks rush to safe havens

• Receding Fed rate expectations, global growth concerns will underpin gold

• Technical picture positive after daily close above 200-day MA at $4515

• Next objective is the 50% retracement of Jan-July decline at 4769

• Support 4650, 4625, 4590-4600; Monday range 4594.13-4680.70
XAU:

(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)