On Thursday, Gold price slightly decreased as the recovery of the USD limited the upside potential. The Greenback found demand as people filing first-
Lower US yields limit the yellow metal´s downside potential.On Thursday, Gold price slightly decreased as the recovery of the USD limited the upside potential. The Greenback found demand as people filing first-time claims for state unemployment insurance decreased at the end of August, while the Personal Consumption Expenditures inflation figures increased, just as expected. Markets are cautious ahead of critical Nonfarm Payrolls from August that will be released on Friday.
That said, the US dollar, measured by the DXY index, showed more than 0.40% of daily gains while the US treasury bond yields, often seen as the opportunity cost of holding non-yielding metals, decreased. The 2,5 and 10-year yields declined to 4.86%, 4.24% and 4.08%, respectively, limiting the XAU/USD downside. The focus now shifts to the August, where investors will watch for further clues about the next interest rate decisions by the Federal Reserve .
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