Gold price is finding its feet to attempt another run to the $2,000 threshold early Thursday, as the United States Dollar (USD) and US Treasury bond yields lick their wounds following a non-committal US Federal Reserve (Fed) interest rate outlook and mixed US economic data.
Gold price looks to extend the rebound early Thursday, focus shifts to US Nonfarm Payrolls. US Dollar drops with US Treasury bond yields on non-committal Fed policy stance. Gold price remains a ‘buy on dips’ trade amid multiple Bull Cross confirmations.
55M, slightly up from a revised 9.50M in August and ahead of the 9.25M forecast. In Thursday’s trading so far, Gold price is building on the previous recovery, as investors weigh the path forward on interest rate by the Fed, with bets for a December and January rate hike pared back and markets pricing in Fed rate cuts as early as June next year.
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