Gold price (XAU/USD) pares some of its earlier losses and climbs back above the $1970 mark after hitting a new weekly low at around $1953 after the re
Gold price recovers after hitting a weekly low of $1953 following positive US economic data release. US Treasury bond yields surge, with the 10-year reaching 4.88%, while US real yields drop to 2.43%. Geopolitical risks, upcoming US GDP figures, and inflation data are expected to influence XAU/USD prices. lease of US economic data. The XAU/USD is trading at around $1974.30 above its opening price by a minuscule 0.09%. XAU/USD climbs back above $1970, trading at $1974.30, up by 0.
Aside from this, traders' focus shifts toward the release of additional economic data from the United States, with third-quarter Gross Domestic Product figures pending to be released on Thursday, along with unemployment claim numbers. On Friday, the Federal Reserve’s preferred gauge for inflation is expected to show inflation continues to slow down amid speculation of the end of the Fed’s tightening cycle.
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