Gold price (XAU/USD) rebounds after touching a one-and-half-week low during the Asian session on Friday and climbs to a daily high, above the $2,640 level in the last hour.
Gold price witnessed an intraday turnaround from over a one-week low touched on Friday. A softer risk tone, geopolitical risks, and trade war fears benefit the safe-haven commodity. Bets for a less dovish Fed might cap gains for the XAU/USD ahead of the US NFP report. Gold price rebounds after touching a one-and-half-week low during the Asian session on Friday and climbs to a daily high, above the $2,640 level in the last hour.
Investors keenly await the release of the US Nonfarm Payrolls report, which might offer cues about the Fed's rate-cut path and determine the near-term trajectory for the USD and the commodity.
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