GOLD PRICE FORECAST: XAU/USD BOUNCES OFF DAILY LOW, HOLDS STEADY AROUND $2,020 LEVEL

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  • Gold price reverses an intraday dip on Thursday, albeit lacks any follow-through buying.
  • A modest US Dollar strength and stable performance in the equity markets cap gains.
  • Bets for an imminent rate-hike pause by the Federal Reserve continue to lend support.
  • Traders now seem reluctant and look to the US NFP report for some meaningful impetus.

Gold price attracts some dip-buying near the $2,008-$2,007 region on Thursday and stalls the previous day's retracement slide from its highest level since March 2022. The XAU/USD is currently placed just below the $2,020 level, nearly unchanged for the day, and is influenced by a combination of diverging forces.


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