Commodity Alert: Gold prices move higher with eyes on U.S. Data
Gold prices moved higher, as sentiment on the U.S. dollar remained vulnerable ahead of a key U.S. employment report due to be released later in the day. Market participants were looking ahead to the U.S. nonfarm payrolls report due later Friday, for further indications on the strength of the job market.
The greenback briefly rebounded after the Fed, at the conclusion of its policy meeting on Wednesday, signalled its confidence about inflation and growth in the U.S. The Fed said that inflation is likely to rise this year, boosting expectations for further interest rate hikes under incoming central bank head Jerome Powell. The Fed left rates unchanged on Wednesday, in widely expected move. The meeting was current Fed chair Janet Yellen's last.
Source : Investing
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