In Thursday's session, the XAU/USD Gold Spot price gained limited momentum, jumping to $1,985, benefited by lower US yields and a weaker US Dollar following Wednesday's Federal Reserve (Fed) decision.
XAU/USD advanced slightly to $1,985, seeing 0.15% gains. Short-term US Treasury yields are weak, near monthly lows. Eyes on Friday's Nonfarm Payrolls. In Thursday's session, the XAU/USD Gold Spot price gained limited momentum, jumping to $1,985,benefited by lower US yields and a weakerUS Dollar following Wednesday's Federal Reserve decision.
It is worth noticing that a hot reading may revive the hawkish bets on the Fed as despite welcoming the recent data which showed a cooling in the sector, the bank clarified that it is ready to adjust further in case needed. XAU/USD Levels to watch The technical analysis of the daily chart points to a neutral to bullish outlook for XAU/USD, indicating a decline in bullish strength as the metal seems to be correcting overbought conditions after hitting $2,000 last week.
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