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Gold Price Forecast: Can Gold Break Above $4,300 Before US Nonfarm Payrolls?
['Lilly Mwogah', 'Content Writer', 'Finance Analyst', 'Lilly Mwogah Is A Market Analyst', 'Financial Writer Covering Global Financial Markets', 'With A Focus On Cryptocurrencies', 'Fx', 'Equities', 'Gold', 'Macroeconomic Developments. Her Work Centers On Research-Driven Market News']
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Summary: Gold prices climbed to a seven-week high as traders reduced expectations for another Federal Reserve rate hike.
Attention now shifts to Friday's US Nonfarm Payrolls report, which could determine whether gold extends its rally toward $4,300.
Fed rate expectations continue to support goldGold’s recent strength has been driven largely by shifting expectations for US monetary policy.
Gold market watches US jobs report for next directionAttention is now shifting to Friday’s US Nonfarm Payrolls report, which is expected to be the next major catalyst for gold prices.
Gold price outlookThe gold price outlook remains constructive as long as expectations for further Federal Reserve tightening continue to ease.