Gold Price News and Forecast: XAU/USD prices up for the fifth consecutive day, firm above $2000/oz
|Gold retreats from fresh record highs to the $2050 area
Gold is holding onto daily gains on Thursday, despite the recent pullback from fresh all-time highs. XAU/USD climbed to $2070, reaching a new high and then pulled back to as low as $2048. As of writing, it trades at $2060, on its way to a new record close.
The retreat in gold was limited on the back of renewed weakness around the US dollar. The DXY is back in neutral territory near 92.70, after approaching 93.00. Positive economic data from the US (jobless claims) failed to boost the dollar ahead of Friday’s NFP.
Gold settles at highest level ever
Gold has had things all its own way lately with pretty well every price driver in its favor; however tomorrow it faces a real challenge with the release of the all important US jobs data. This will be a good test of sentiment and how gold behaves will give us a good indication just how much fuel it has in the tank regarding further gains.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.