Gold Price Forecast: XAU/USD stuck around $2,300 as market players lack directional conviction

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 23 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 72%

XAUUSD News

Gold,Recommended,Fed

Financial markets struggle for direction on Thursday, with XAU/USD hovering around the $2,300 mark.

XAU/USD Current price: $2,302.95 The Federal Reserve failed to deliver a clear message on future rate moves. Market players await the April US Nonfarm Payrolls report. XAU/USD is neutral-to-bearish in the near-term, strong selling interest around $2,336.50. The US Dollar traded throughout the day on sentiment, advancing with optimism while falling when things soured.

The ADP survey indicated that the private sector added 192K new positions in April while the number of job openings remained little changed at 8.5 million on the last business day of March, according to the JOLTS Job Openings report. Furthermore, the US reported Unit Labor Costs in the first quarter of the year rose 4.7%, implying an upward risk to inflaiton, while Nonfarm Productivity in the same quarter advanced a measly 0.3%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines