Gold prices (XAU/USD) surged to near seven-week highs, trading above $4,300 during the Asian session on Wednesday. This upward momentum comes as the US labor market displays resilience, albeit with indications of a slowdown. Traders are closely watching the implications for future monetary policy as economic data begins to show mixed signals.
The increase in gold's value reflects a growing demand for safe-haven assets amid uncertainty in the labor market. As the exchange rate fluctuates, the precious metal's gains may influence other currency pairs, particularly against the USD and EUR. Analysts suggest continued upward pressure on gold could persist if labor market data continues to weaken, prompting investors to seek stability in precious metals.
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Data Source: FX Killer Analysis Team Updated: 2025-12-17 05:22
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.