Gold price (XAU/USD) slips off bull’s radar for a while as markets consolidate amid the Good Friday holiday, despite being set for the weekly gain to around $2,007. Adding filters to the XAU/USD trading is the cautious mood ahead of the US employment data for March, as well as the looming recession woes. It should be noted, however, that the recently downbeat US employment clues and easing hawkish concerns about the Fed’s next move keep the Gold price firmer, backed by a weaker US Dollar.
Moving on, Nonfarm Payrolls (NFP) need to match the downbeat expectations from the jobs report to keep Gold buyers in the driver’s seat. In absence of this, the Gold price may extend the latest pullback towards the $1,990 support confluence with eyes on the key US inflation and Fed Minutes.
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