Gold Price News and Forecast: Upbeat market mood weighs on XAU/USD on Thursday
|Gold pulls away from multi-week highs on trade hopes, steadies below $1,470
After advancing to its highest level since November 7th at $1,487 amid broad-based USD weakness, the troy ounce of the precious metal reversed its direction and slumped below $1,470 during the American trading hours. As of writing, the XAU/USD pair was $1,467.80, erasing 0.5%, or $7, on a daily basis.
Gold volatile after ECB, Trump's comments
It has been a rollercoaster day for gold so far on Thursday as the precious metal advanced 1% during the London session, only to give up all the gains and turn to sharp losses later in the day.
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