Gold rose again on Thursday and is bound for its biggest monthly rise since November 2022 on the back of a blistering rally spurred by bets on US interest rate cuts and strong safe-haven demand.
“Gold seems to be on standby after a three-day rally with investors on the sidelines ahead of key US data,” said FXTM senior research analyst Lukman Otunuga “More signs of cooling price pressures may reinforce expectations around the Fed cutting rates – ultimately boosting appetite for gold. However, a sticky report is likely to drag the precious metal lower,” Otunuga added.
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