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The direction of gold price

On Friday, the price of gold (XAU/USD) gathers momentum despite a slight recovery in the US Dollar (USD).

The precious metal climbs higher as many analysts predict that a weakening labor market could prompt the Federal Reserve (Fed) to expedite interest rate cuts, aiming to spur economic growth.

Additionally, renewed geopolitical tensions are expected to bolster gold's market value.
Nevertheless, the prospect of a hawkish stance from the US Fed regarding interest rates, coupled with a stronger US dollar (USD), may exert downward pressure on gold prices.

Gold traders will closely monitor the release of the US CPI data for May, which is expected to guide the trajectory of gold prices.


Dr. Kamaran Qader Yaqub,
Financial consultant at Investment Spot company. 

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