XAUUSD Gold price strumbled for the third consecutive trading session and posted a three-week low as high US treasury bond yields weighed on the non-yielding metal amidst soft US Doolar (USD) during Thursday's trading session. At the time of writing, the XAU/USD exchanges hands at $1,933.21 , down 0.02% as Friday's Asian session commences.Wall Street finished Thursday's session with losses as US Treasury bond yields minus inflation expectations in 10 years, advanced and climbed ten basis points, up to 1.99%, its highest level since the week of July 3, when it hit 2.15%.
Although data was mixed, US Treasury bond yields continued to climb. XAU/USD began the session at a nearby $1,938.72 before dropping towaard the day lows amid a softer greenback.
XAU/USD traders focus on Friday's July US Nonfarm Payrolls report please. Figures are expected to show the US economy added 200K jobs to the economy, with the Unemployment Rate expected to remain at 3.6%. Any upward deviations from the from the forecast could be positive for the buck and negative for XAU. That could weigh on Gold and put into play a test of the 200-day EMA at $1,907.49. On the contrary, XAU/USD could rally if the outcome misses estimates.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.