Spot Gold trades with a bullish bias on Thursday, reaching fresh two-week highs just below the $2,380 mark.
XAU/USD Current price: $2,374.40 The European Central Bank trimmed interest rates by 25 bps as expected. The focus shifts to the May United States Nonfarm Payrolls report. XAU/USD trades at fresh two-week highs and may extend its advance towards $2,400. The bright metal accelerated north early in the American session after the European Central Bank monetary policy announcement and United States employment data.
9%, while Average Hourly Earnings, a measure of wage inflation, are expected to have ticked up by 0.3% in the month from the previous 0.2%. A strong labor report could provide the US Dollar with bullish momentum, but speculative interest will likely sell it back after the dust settles. XAU/USD short-term technical outlook XAU/USD is up for a second consecutive day and trading near the aforementioned high. The risk skews to the upside, although additional confirmations are needed.
XAUUSD Recommended ECB Employment
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