- A combination of supporting factors assists the Gold price to gain positive traction on Thursday.
- Fears of a US recession, geopolitical risks weigh on investors’ sentiment and benefit the XAU/USD.
- Dovish Fed expectations, sliding US bond yields undermine the USD and further lend support.
Gold price (XAU/USD) attracts some buying during the Asian session on Thursday, albeit lacks bullish conviction and remains below the $2,400 mark. Nevertheless, the precious metal seems to have snapped a four-day losing streak and is supported by a combination of factors. Investors remain concerned about an economic slowdown in China and a possible US recession. This, along with geopolitical risks stemming from the ongoing conflicts in the Middle East, turns out to be a key factor acting as a tailwind for the safe-haven precious metal.
Meanwhile, Friday’s weak US employment report for July raised expectations for…
