Аналізатор: напередодні публікації даних про зайнятість у США, ринок посилив очікування щодо подальшого зниження ставок Федеральною резервною системою

Odaily Planet Daily News - Analyst Haresh Menghani stated that gold maintained a slight downward trend in the first half of the European session. However, ahead of the highly anticipated U.S. non-farm payroll data release, investors chose to wait and see, with gold prices lacking firm bearish momentum. The key U.S. employment data will provide clues for the Federal Reserve’s rate-cutting path, which in turn will play a crucial role in affecting the dollar’s short-term movement and bring new momentum to gold. Under risk-off sentiment ahead of the key data release, the dollar continued its two-week uptrend and touched a one-month high, exerting some downward pressure on gold prices. However, market expectations for further Fed rate cuts, coupled with persistent geopolitical uncertainties, continue to provide support for gold as a safe-haven asset. Against this backdrop of mixed bullish and bearish fundamentals, traders are unwilling to take new directional bets, resulting in dull gold price movements exhibiting a range-bound pattern. (Golden Ten)