Gold extended its profit-taking slide from multi-month highs for the third consecutive session and dipped below the $1300 mark, albeit has managed to bounce off lows.

A quick reversal in investors' risk appetite, following Tuesday’s North Korean headlines, exerted some bearish pressure around the safe-haven precious metal. 

Wednesday's upbeat US economic reports - ADP and GDP, helped the US Dollar Index to extend its solid rebound from over 2-1/2 year lows and further dented demand for dollar-denominated commodities - like gold. 

   •  US Dollar firm, around 93.00 ahead of US PCE

Adding to this, today's upbeat Chinese manufacturing PMI added to the buoyant sentiment and contributed to the yellow metal's fall back below the key $1300 psychological mark.

The metal, however, showed resilience at lower level and has recovered back to $1307 level amid persistent concerns around North Korea-related tensions. 

Moreover, investors also seemed reluctant to place aggressive bets ahead of Friday’s keenly watched NFP data, which might influence the Fed’s near-term monetary policy outlook and eventually provide fresh impetus to the non-yielding commodity. 

Ahead of the official jobs report, today’s US economic docket would be looked upon to grab some short-term trading opportunities.

Technical levels to watch

Bulls would be eyeing for a sustained move beyond $1310 level, above which the metal is likely to head towards $1315 hurdle before eventually darting towards yearly tops resistance near the $1325 region.

On the flip side, a decisive break below the $1300 mark could extend the corrective slide towards $1292-91 horizontal support ahead of $1284 level. 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD looks range bound in the sub-1.1600 area

EUR/USD looks range bound in the sub-1.1600 area

Following Wednesday's hiccup, EUR/USD resumes its weekly downturn, remaining in the sub-1.1600 range, while the US Dollar (USD) gains momentum across the board on the back of solid retail sales numbers and the weekly labour market report.

GBP/USD remains on the defensive around 1.3400

GBP/USD remains on the defensive around 1.3400

GBP/USD maintains its bearish tilt unachanged toward the end of Thursday’s session, hovering just above recent multi-week lows around the .3400 neighbourhood. The positive UK labour market statistics offered instant support for the British Pound, but the strong tone in the Greenback kept Cable’s price action subdued.

Gold trades with modest losses near $3,340

Gold trades with modest losses near $3,340

Gold remains in auto-pilot around the $3,340 zone per troy ounce as the NA session draws to a close on Thursday. The yellow metal's negative trend stems from the extra improvement in the dollar, rising US yields, and some relief from trade concerns.

Top Crypto Gainers: FLOKI, BONK post double-digit gains, CRV targets $1

Top Crypto Gainers: FLOKI, BONK post double-digit gains, CRV targets $1

Solana-based meme coins Floki and Bonk edged lower by 2% at press time on Thursday, following the 30% gains on Wednesday, ranking as top crypto gainers in the last 24 hours. Curve DAO ranks third with a 21% surge following a triangle setup breakout, targeting the $1 psychological level. 

China’s first-half growth remains on track, though activity data signals caution

China’s first-half growth remains on track, though activity data signals caution

China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern.

Best Brokers for EUR/USD Trading

Best Brokers for EUR/USD Trading

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025