Gold prices decreased for two consecutive sessions

Обновлено
Gold prices continued to decline on Thursday, although remaining around the old peak of $2,450. Currently, XAU/USD is trading around 2,444 USD, down more than 1.5% from its peak of 2,483 USD due to the greenback's recovery, supported by rising US government bond yields.

Jobs data released by the US Bureau of Labor Statistics (BLS) showed that more people than expected applied for unemployment benefits, signaling a slowing economy. This, along with last week's string of data showing inflation moving toward the 2% target, could prompt a change in stance from Fed policymakers.

The number of Americans filing new unemployment claims increased more than expected last week, but according to data released by the Labor Department on Thursday, the labor market did not change significantly.

Finally, Fed officials have expressed that the central bank may be "getting closer" to lowering interest rates as inflation and recession risks have become more balanced. Still, the International Monetary Fund (IMF) said on Thursday that the Fed should not rush to cut interest rates until the end of 2024.
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✔️TP1: 2440
✔️TP2: 2450
❌SL: 2418
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