XAUUSD: Markets Slow Down Ahead of NFP
Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair Jerome Powell's remarks suggested that unexpected rises in unemployment could prompt interest rate cuts, reassuring markets concerned about inflation. Traders are closely monitoring upcoming US inflatio...