Gold falls to multi-week low after US labor market data exceeds expectations. China’s People’s Bank halts 18-month Gold buying spree, exerts downward pressure on XAU/USD. US Treasury yields surge with the 10-year yield up to 4.43%, bolstering the Greenback and pushing Gold’s price lower. Traders eye US inflation data and Fed policy meeting next week….
Gold price is gaining 1.18% amid mixed US economic data and lower Treasury yields. US 10-year Treasury yield drops to lowest level since April, following a softer-than-expected jobs report. US Dollar Index increases 0.22% to 104.7 but fails to curb Gold’s advance. Gold’s price remains range-bound and advanced on Wednesday, making a U-turn to Tuesday’s…
Gold climbs 0.23% on Friday but is set for weekly drop above 3%. US Durable Goods Orders exceed expectations, though March’s revised down data softened the impact. XAU/USD recovers on mixed US data that weighs on US Dollar. Traders now anticipate only 25 basis points of Fed rate cuts in 2024, reducing expectations for easing….