Gold price (XAU/USD) trades with a positive bias during the Asian session on Thursday and remains close to a one-week high touched on the previous day, though it lacks follow-through buying.
Investors remain concerned about US President Donald Trump's tariff measures, which continue to act as a tailwind for the safe-haven bullion.
Furthermore, the possibility of an earlier-than-expected interest rate cut by the Federal Reserve (Fed) and the bearish sentiment surrounding the US Dollar (USD) turn out to be other factors lending support to the non-yielding yellow metal.
However, a generally positive tone around the equity markets keeps a lid on any further gains for the Gold price.
Traders also seem reluctant and opt to wait for the release of the closely-watched US monthly employment details – popularly known as the Nonfarm Payrolls (NFP) report – on Friday before placing fresh directional bets.
Nevertheless, the fundamental backdrop and the recent price action suggest that the path of least resistance for the XAU/USD pair remains to the upside. Hence, any corrective slide might still be seen as a buying opportunity and remain limited.
Source: FXStreet
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