XAUUSD: Gold Price Extends Losses As Market Awaits Key US Data

From investingcube.com

Gold prices were down by 0.3 percent in the intraday session on Thursday, as the market positioned itself for the release of key US economic data. XAUUSD traded at $2,336 per ounce at the spot market, and touched an intra-day low of $2,322.66, the lowest point in two weeks. The downward momentum is likely to persist, as yields on US treasury bonds return to the ascending lane on hawkish Fed comments. Returns on benchmark 10-year bonds are hovering near the 4.600 mark as of this writing. The final GDP readings for the first quarter of 2024 will be out on Thursday, and the market forecasts the figure to come in at 1.6 ... (full story)