Gold rises for the fourth day in a row on Thursday as traders reach for safety. Underwhelming Nvidia earnings, talks about cutting interest rates from Fed speakers and Russia-nuke risks all impact. XAU/USD forms a bullish Three White Soldiers Japanese candlestick pattern. Gold extends its recovery into a fourth day on Thursday, rising up into the $2,670s during the European session.
The overall risk-off tone left in the wake of the disappointment led to a broad decline in investor sentiment, which for Gold and other safe-haven assets was positive news. The US Dollar , meanwhile, is edging slightly lower after surging on Wednesday. The Greenback appears to have been stopped in its tracks by commentary from Federal Reserve speakers suggesting the Fed should push ahead with its plan to cut interest rates amid falling inflation.