Gold Price (XAU/USD) portrays the routine consolidation ahead of the United States Nonfarm Payrolls (NFP) while easing to $1,940 amid early hours of F
Recent mixed prints of United States inflation, employment clues increase importance of US NFP for XAU/USD traders.
Following the downbeat prints of consumer confidence and employment clues, the US economic calendar flashed slightly better data on Thursday and triggered the Gold Price pullback from the monthly high. The same joins the pre-data consolidation to help the DXY pare weekly losses, the first in seven, as market players await today’s key US jobs report.Consumption Expenditure
Amid these plays, the US 10-year and two-year Treasury bond yields remain depressed around the lowest level in three weeks while the US stock futures dwindle after a mixed Wall Street close. Furthermore, theWhile the mixed feelings about the US Federal Reserve prod the Gold traders, a slew of economics stand tall to direct the Gold Price.
With this, the XAU/USD is likely to revisit the 200-Simple Moving Average support of around $1,933 before challenging the fortnight-old support line of around $1,927.
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