Gold (XAU/USD) experienced a pullback after reaching a nearly three-week high of $4,245 on Thursday. The surge was initially fueled by the US government reopening, which exerted downward pressure on the USD. Market participants were optimistic about September's jobs data potentially prompting the Federal Reserve (Fed) to consider interest rate cuts, bolstering demand for the safe-haven asset.
As the prospect of Fed rate cuts receded, safe-haven demand for gold weakened, leading to a retreat in prices. Traders are now closely monitoring economic indicators and the evolving exchange rate dynamics, particularly between the USD and other currencies like the EUR. The balance between inflation concerns and employment figures will be pivotal in shaping the outlook for gold and the broader forex market.
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Data Source: FX Killer Analysis Team Updated: 2025-11-13 18:51
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.